Time Table In Bankruptcy

Time Table in Bankruptcy Filings

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The Question: Please inform me of the "Bankruptcy Time Table".

The Answer

Bankruptcy Time Table Chart

This lists important milestones in a bankruptcy case.

BANKRUPTCY TIME TABLE CHART

Date Deadline

One year before filing bankruptcy, preference period for insiders.

90 days before filing bankruptcy, preference period for general creditors.

Date that the bankruptcy petition is filed. Four copies plus the filing fee.

Ten days within petition filing date to file the matrix.

Within ten days of petition filing, file the Chapter 13 plan.

Within 15 days of the bankruptcy petition, file the schedules, statement of affairs, the attorney application for compensation and employment in Chapter 11 cases.

Within 30 days the debtor must file his or her statement of intention regarding secured collateral and accepting or rejecting executory leases.

Within 30 days of the bankruptcy petition, make first payment under a Chapter 13 plan.

Within 60 days of the bankruptcy filing, all leases must be rejected unless the trustee or debtor assumes the same.

Within three to four months, the creditor's meeting will be held.

Within 30 day of the creditor's meeting, all creditors must object to the debtors assets claimed as exempt or waive their objecting.

Within 60 days of the creditor's meeting, creditors must object to the debtors dischargability.

Within 90 days of the creditor's meeting, creditors must file proof of claims.

Within 120 days of the creditor's meeting, the debtor must file proof of claim on behalf of creditors.

Within 30 days of filing a claim, the debtor must file an objection to the proof of claim, otherwise the same is taken as owed and correct.

Motion to Lift the Automatic Stay Filing Date

Within 12 days of filing the motion to lift the automatic stay, the debtor must answer and object to the motion to lift the automatic stay.

Within 30 days of filing the motion to lift the automatic stay, it is automatically granted unless the court keeps it in force. A final hearing must occur within forty days of the preliminary hearing

Solutions

Solutions are dependent upon facts & circumstances, law and the objectives. These elements vary from one time to another, from one circumstance to another and from person or entity to another.

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