Bankruptcy Discharge After The Second Debtor Education Course

After you have attended your Meeting of Creditors you will be required to take the second and final course in the debtor education program. After you have received your certificate your attorney will then file the credit counseling course with the court. The time it takes for the discharge to be active depends on the type of bankruptcy petition you filed.

Discharge of Chapter 7

The average chapter 7 bankruptcy case takes approximately three months to discharge once it is filed. In the first two months your attorney will file your paperwork, you will take your credit counseling course, and you and your attorney will attend a 341 meeting of creditors.

A discharge means that you have successfully completed your bankruptcy. Most, if not all, of your unsecured and some of your secured debt will be wiped away.  You should receive your discharge around 90 days after your bankruptcy petition is filed.

Discharge of Chapter 13

The discharge process of a Chapter 13 bankruptcy is different than in Chapter 7 because this type of bankruptcy reorganizes a filer’s debt rather than liquidating it. While some debts are discharged, most are put into a financially-feasible plan in which the debtor makes monthly payments.

Once your petition is approved the court typically puts debtors in two types of plans; a 3 year or a 5 year plan. During this time you will make your payments to a Trustee who will disperse the appropriate amounts to your creditors. Your bankruptcy will still be open during the plan. After making all the required payments and completing your debtor’s education courses, you will be given your bankruptcy discharge.

Attorney Oberhauser Helps Those in Need of Financial Relief

Combining years of experience in bankruptcy court along with numerous successful cases, attorney Greg Oberhauser knows how to help those seeking financial relief. He will make sure that all documents are submitted properly, alert your creditors to your bankruptcy filing, and most importantly, help you finally get rid of the debt that is ruining your life. Call the Oberhauser Law today and schedule a free consultation. We are here to answer all of your questions: 978-452-1116.