It takes about 90 days to get through a Chapter 7 bankruptcy in Rhode Island. After I file your case, the RI Bankruptcy Court assigns a case trustee to review the file.
The court then schedules a hearing date for the meeting of creditors (also called a 341 meeting). Your hearing will be about 30 days into the process and take place in Providence.
Your hearing will NOT be in a courtroom.
At the 341 meeting of creditors, the assigned trustee will review your 50 page bankruptcy petition. He will ask questions to make sure your petition is complete and truthful.
Because 6 hearings are scheduled every 30 minutes, your hearing should move along quickly. No need to worry. We will review any potential issues prior to your hearing so you’ll feel comfortable and prepared. When your hearing ends, we wait about 60 days before the dischargeable debts are wiped out.
But what happens before we file your case? Does it take a long time to prepare? This largely depends on you. Because every case is unique, there may be several good reasons to not file your case immediately. Here are just a few:
- It takes time to gather records: tax returns for past 2 years, pay records over prior 6 months, recent account statements/ bank records.
- Legal issues: time may be needed to research special circumstances.
- Recent Purchases: time is needed to let cards “cool down” after big purchases or cash advances.
- Unusual income: If you have a spike in income, the mean’s test may require us to wait for your average monthly income to lower.
- Bankruptcy costs: The court requires these costs to be paid in full before I am permitted to file your case.
It is possible to file a case in as little as 24 hours, but it is not typical or recommend-ed. A lot of work must be done in order to complete a quality 50 page bankruptcy petition and I never want to file a case that has not been triple-checked. I want your case to be bullet-proof.
My goal is to get it right the first time and not be rescheduled for a second hearing. This has been my experience in filing almost 3,000 cases in Rhode Island.
If bankruptcy is something you would like to learn more about, give me a call. I will take the time to explain all of your options and help you each step of the way.