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Bankruptcy Timeline

8 Years Before Bankruptcy Filed

Prior Bankruptcy Prevents Filing of Chapter 7

You are prohibited from receiving a discharge under Chapter 7 if you
received a discharge in a bankruptcy within the last 8 years.
A discharge may still be granted if the prior bankruptcy was
under Chapter 12 or 13 and paid 100% of allowed unsecured claims,
or paid at least 70% allowed unsecured claims and the plan was
proposed in good faith and was the your best effort.

This restriction does not apply to the filing of a Chapter 13 after any
prior bankruptcy.

11 U.S.C. Sec 727(a)(8 & 9)

1 Year Before Bankruptcy Filed

Transfer, concealment or destruction of property prevents
 discharge in Chapter 7

The court may deny you discharge of all debt if you attempted
to hinder, delay or defraud a creditor when you transferred, removed,
destroyed, mutilated, or concealed property within one year prior to
the filing of your Chapter 7 petition.

The trustee may recover the property from the person to whom you
transferred it.

11 U.S.C. Sections 727(a)(2), 548(a)(1)

Payment to Relative or Insider is a Preference

A total of $600 or more in money or property which is paid to a
creditor that is a relative or insider (certain business associates)
within a year prior to filing is a preference. The Trustee may recover
preferences and divide the money between all creditors.

In Chapter 13, you may be able to prevent the trustee from going
after the relative by increasing the amount paid into your plan.

11 U.S.C. Sections 547(b)(4)(B), 547(c)(8), 101(31)

180 Days Before Bankruptcy Filed

Dismissal of prior bankruptcy prevents filing Chapter 7 or 13.

You may not file any bankruptcy if you filed a previous bankruptcy
 which was dismissed in the preceding 180 days either (1) on the
 court's order because of your willful failure to obey orders of the
 court or to appear in court when required; or (2) at your request
 after the filing of a request for relief from the automatic stay.

11 U.S.C. Sec 109(g)

90 Days Before Bankruptcy Filed

Minimum Residency Requirement

You must be a resident in the state in which you are filing for the
last 90 days.  If you have not resided in the state that long, you
can only file in the state where you have resided, or which has been
your principal place of business or which has been the location
of your principal assets for the majority of the last 180 days.

Payment to Creditor is a Preference

A total of $600 or more in money or property which is paid to
a creditor within 90 days prior to filing is a preference. The
Trustee may recover preferences and divide the money between
all creditors.

In Chapter 13, you may be able to prevent the trustee from going
after the creditor by increasing the amount paid into your plan.

11 U.S.C. Sections 547(b)(4)(B), 547(c)(8), 101(31)

60 Days Before Bankruptcy Filed

Debt presumed to be non-dischargeable

Debt of $1,075 for cash advances or "luxury goods or services"
incurred within 60 days before the Bankruptcy is filed is
presumed to be non-dischargeable.

Applies to Chapter 7 cases, and to hardship discharge in Chapter 13.

11 U.S.C. Sections 523(a)(2), 1328(b)

Bankruptcy Filed

Commencement of Case

A voluntary bankruptcy is commenced when you file a petition
with the Bankruptcy Court requesting protection from your creditors
under Chapter 7 or Chapter 13.  A husband and wife may
file one petition together and commence a joint case.

The filing also puts a stay under 11 U.S.C. Sec362 into effect
prohibiting collection actions.

11 U.S.C. Sections 301, 302, 101(42)

15 Days After Bankruptcy Filed

 

Deadline to File Schedules and Financial Statement, and
Chapter 13 Plan

Within 15 days after filing the Chapter 7 or Chapter 13 petition
that commenced your case, you must file schedules listing
your assets and liabilities, your current income and
expenditures, executory contracts and unexpired leases,
and a statement of your financial affairs.

Bankruptcy Rule 1007(c); see also 11 U.S.C. Sec 521

In Chapter 13, the Plan must also be filed within 15 days
after the Bankruptcy was filed. The plan provides for submission
of future income and the treatment of your creditors,
specifying when and how much each kind of creditor will receive.

Bankruptcy Rule 3015(b)

About 18 Days After Bankruptcy Filed

Court Mails Notice of Commencement of Case

Approximately 18 days after your case is commenced, the court
mails a Notice of Commencement of Case to you and to the
creditors you have included in your mailing list.  The
notice contains meeting date, deadlines for objections to
discharge and for filing Proofs of Claims.

After Chapter 13 Plan Filed

 

Chapter 13 only:  Deadline to Notice Chapter 13 Plan

In the Western District of Missouri, your attorney must mail 
your Chapter 13 Plan to all creditors after the Chapter 13 Plan is filed. 

30 Days After Bankruptcy Filed

 

Chapter 7 only:  Deadline to file Statement of Intention

Within 30 days after filing the Chapter 7 petition that commenced
your case (or before the Sec 341 meeting if that is earlier),
you must file a Statement of Intention indicating whether you will
be surrendering or keeping property secured by consumer debt. 
If you are keeping secured property, you will need to indicate
whether you intend to:  (1) reaffirm the debt and continue to make
the payments remaining obligated for the balance of the debt,
or (2) redeem the property by immediately paying the value of
the property and receive a discharge for the balance of the debt.

A copy of the Statement of Intention must be served on
the trustee and the creditors named in the statement on or
before the filing of the statement.

11 U.S.C. Sec 521(2)(A); Bankruptcy Rule 1007(c)

30 Days After Chapter 13 Plan Filed

 

Chapter 13 only:  First Payment Due Under Chapter 13 Plan

You must make your first payment under the Chapter 13 Plan
within 30 days after the plan was filed.

If your plan was filed with the petition which commences your
case, your first payment is due within 30 days of the start of the
case.  Since the plan must be filed within 15 days after the
commencement of your case, the latest date you may start making
payments is 45 days after the filing of the case.

11 USC Sec1326(a)(1)

About 6 Weeks After Bankruptcy Filed

Sec 341 Meeting

Section 341 (the symbol "Sec" means section) of the Bankruptcy
code requires the Trustee to preside at a meeting of
creditors
within a "reasonable time."  This meeting is usually
held approximately six weeks after Bankruptcy is filed. 

You (as the debtor in a Bankruptcy case) are required to attend
this meeting and testify under oath, but most creditors do
not come to the meeting.  The failure of creditors to attend the
meeting does not effect their right to challenge the discharge in
a Chapter 7 or to object to the plan in a Chapter 13.  If you
do not attend, your case will be dismissed.

11 USC Sec 341

45 Days after Statement of Intentions Filed

 

Chapter 7:  Deadline in Chapter 7 to perform under Statement
of Intention

In Chapter 7, within 45 days after you filed Statement of Intention,
you are to perform as you indicated.   In that statement, you
were required to state whether you would be surrendering or
keeping property secured by consumer debt.  If you were keeping
secured property, you would have indicated whether you intended
to:  (1) reaffirm the debt and continue to make the payments
remaining obligated for the balance of the debt, or (2) redeem
the property by immediately paying the value of the property
and receiving a discharge for the balance of the debt.

11 U.S.C. Sec 521(2)(B)

30 Days After Sec 341 Meeting

 

Deadline for creditors or Trustee to object to claim of exempt
property

Creditors and the Trustee have until 30 days after the conclusion
of the creditor's meeting under Sec 341 to object to the property
you have claimed as exempt in Schedule C.  While most
341 meetings are concluded on the same day they are set, it
is not unusual for a meeting to be continued to a subsequent
date, which will extend the time that creditors have to object.

Bankruptcy Rule 4003

60 Days After Sec 341 Meeting

Chapter 7:  Deadline in Chapter 7 for objection to discharge
of a particular debt under Sec523(c)

Creditors have until 60 days after the first date set for creditor's
meeting under Sec 341 to file a complaint under Sec 523(c).  Sec 523(c)
allows creditors to object to the discharge of debts which were
obtained by false pretenses, a false representation, or actual
fraud; debt from fraud or defalcation while acting in a
fiduciary capacity, embezzlement or larceny; debt for willful and
malicious injury; and debt incurred in a divorce or separation
(other than child support and spousal maintenance which are
not discharged even without an objection to discharge).

The most common objection to discharge of a debt is based on
523(a)(2).  This section presumes that charges totaling $1,000
or more to one creditor within 60 days before the case is
commenced are not discharged, if they are for luxury goods or
services, or cash advances. This section also denies a discharge
to debt extended because the creditor relied upon a credit
application which was materially false.

Bankruptcy Rule 4007(c); see also 11 USC Sec 523

 

Chapter 7:  Deadline for objection to discharge of all debt
under Sec 727(a)

Creditors have until 60 days after the first date set for creditor's
meeting under Sec 341 to file a complaint under Sec 727(a).  Sec 727(a)
allows object to the discharge of all debts because of
misconduct including transfer, destruction or concealment
of property; concealment, destruction, falsification or failure to
keep financial records; making false statements; withholding
information; failing to explain losses; failure to respond to
material questions; having received a discharge in a prior
case filed within the last 6 years.

Bankruptcy Rule 4004(a); see also 11 USC Sec 727(a)

 

Chapter 7:  Deadline for U.S. Trustee or court to move to
dismiss case for substantial abuse under Sec 707(b)

Until 60 days after the first date set for creditor's meeting
under Sec 341, the U.S. Trustee or the court may move to
dismiss a case in which debts are primarily consumer debts
if it finds that the granting of relief would be a substantial
abuse of the provisions of Chapter 7.

Substantial abuse has been interpreted by a number of courts
to mean having sufficient disposable income to pay more
than half of your unsecured debt over the next 36 months.

Bankruptcy Rule 1017(e); see also 11 USC Sec 707(b)

Chapter 13:  Deadline in Chapter 13 to file all due but
unfiled tax returns

For cases filed in the Westerm District of Missouri, you must
file all due but unfiled tax returns within 60 days after the
first date set for the Sec 341 Meeting.

More than 60 Days After Sec 341 Meeting

Discharge entered in Chapter 7 case

Court rules require that the discharge be entered "forthwith"
after the expiration of the time for objecting to discharge or
moving to dismiss the case. The time for those objections
expires 60 days after the first date set for creditor's meeting.

The discharge is not absolute or final. The trustee can ask that
the discharge be set aside if you do not turn over non-exempt
property, and for other violations of the debtor's duties.

Bankruptcy Rules 4004(c)(1), 4004(a), 1017(e)

90 Days After Sec 341 Meeting

 

Deadline for non-government creditor to file its Proof of Claim

A creditor, other than a governmental unit, must file its Proof
of Claim
within 90 days after the after the first date set
for creditor's meeting under Sec 341 in order to share in payments
from the estate.

Bankruptcy Rule 3002(c)

180 Days After Bankruptcy Filed

 

Deadline for governmental unit to file Proof of Claim

A governmental unit, such as the Internal Revenue Service,
must file its Proof of Claim within the commencement of the
case in order to share in payments from the estate.

Bankruptcy Rule 3002(c)(1)

3 Years from First Plan Payment

Minimum length of payments under Chapter 13 Plan

Unless all allowed claims are paid sooner, plan payments
must continue for the three-year period beginning on
the date that the first payment is due under the plan. 
During this period, the plan must provide that all
of the debtor's projected disposable income is committed
to the plan.  (This requirement comes into effect only
if the trustee or the holder of an allowed unsecured
claim objects; it has been our experience that the
trustee will always object.)

11 U.S.C. Sections 1325(b)(1), 1322(d)

 

Discharge entered in Chapter 13

Upon completion of plan payments the discharge in Chapter 13
is entered.

11 U.S.C. Sec 1328

5 Years from First Plan Payment

 

Maximum length of payments under Chapter 13 Plan

The maximum length of a Chapter 13 plan is five years beginning
on the date that the first payment is due under the plan. 
After the third year of the plan, the plan no longer needs to
provide that all of the disposable income be committed to the plan.

11 U.S.C. SecSec 1325(b)(1), 1322(d)

 

Discharge entered in Chapter 13

Upon completion of plan payments the discharge in Chapter
13 is entered.

11 U.S.C. Sec 1328

 

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