Our office continues to operate during our regular business hours, which are 8:30 am - 5:30 pm, Monday through Friday, but you can call the office 24 hours a day. We continue to follow all recommendations and requirements of the State of Emergency Stay at Home Order. Consultations are available via telephone or by video conference. The safety of our clients and employees is of the utmost importance and, therefore, in-person meetings are not available at this time except for emergencies or absolutely essential legal services.

How Long Does Bankruptcy Take?

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “Will I lose my property if I file for bankruptcy ?”

If you are considering filing for bankruptcy in North Carolina you are likely interested in finding out how long the process will last. Though it might seem like winding your way through the bankruptcy process could take a long time, that is often not the case. To find out more specifics about the bankruptcy process, keep reading.


Clock Charlotte Bankruptcy Lawyer North Carolina Chapter 13 AttorneyChapter 7


In a Chapter 7 bankruptcy things can move surprisingly fast. Once you decide to hire a North Carolina bankruptcy attorney you’ll have a meeting and bring the necessary financial documents so your attorney can fill out your bankruptcy petition. After the petition is filled out, it can be filed with the court relatively quickly and about a month later most people have their first meeting with their creditors.


Though the meeting may sound scary, it’s actually fairly painless and often lasts less than an hour. Once the meeting with the creditors is over, you will have to wait for a period of two months to give all your creditors an opportunity to object to your bankruptcy. You should know that it’s generally quite rare for a creditor to object to a bankruptcy and typically only happens in cases where there are especially large assets or a business involved. Most consumer bankruptcies rarely encounter creditor objections. 

All in all, this process can last a few months, not so bad given the huge opportunity this affords people to recover their financial footing. And even though the process itself may last a few months, most people only need to be involved for a short time, with an initial meeting and a short meeting with creditors. After that your attorney handles the rest.


Chapter 13


Chapter 13 bankruptcies are very different than Chapter 7 bankruptcies because they involve a repayment of debts rather than a simple wiping away. In a Chapter 13 restructuring, much of the same process is repeated, with filings and meeting with creditors. However, this is then followed by a repayment plan, which lasts between three and five years. The exact length of the repayment will depend on the particulars of your situation.


If you find yourself needing the services of a Charlotte, North Carolina bankruptcy attorney, please call the skilled lawyers at Arnold & Smith, PLLC today at (704) 370-2828. As professionals who are experienced in the bankruptcy arena, our attorneys will provide you with the best advice for your particular situation.


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