Have you been struggling with unpaid bills for a long time? Are your creditors beginning to take legal action to repossess your property, foreclose on your home, or obtain judgments and wage garnishments? If so, you are probably feeling an urgency to find some type of solution to your debt problems. Filing a Chapter 13 bankruptcy case may be the answer to your debt problems.
The attorneys of Pioletti Pioletti & Nichols understand your urgency; therefore, we make every effort to keep your case moving along the Chapter 13 timeline as quickly and efficiently as possible. Of course, every bankruptcy case is slightly different depending on the individual’s specific financial situation and circumstances.
The Chapter 13 timeline outlined below is a representation of the typical Chapter 13 bankruptcy case. If you are ready to discuss your bankruptcy options, please contact our office for a free bankruptcy consultation. Our attorneys discuss your financial situation in detail to determine the best course of action to resolve your debt problems and set you back on the road to financial well-being.
Chapter 13 Timeline
As discussed above, each bankruptcy case has different issues that must be addressed depending on the individual’s financial situation. However, several steps in the Chapter 13 timeline are common for all cases filed under this bankruptcy chapter.
- Meet with the attorney for a free bankruptcy consultation to discuss bankruptcy and non-bankruptcy solutions for your financial problems.
- If you choose to file a Chapter 13 bankruptcy case, retain our law firm and provide financial information to our staff.
- Our office prepares all of the forms necessary to file your case, reviews each form with you for accuracy, and files the forms to open your bankruptcy case with the court.
- Your first plan payment is due 30 days after your bankruptcy case is filed. Your plan payment is due on or before the same day of every month thereafter.
- The bankruptcy automatic stay immediately goes into effect upon the filing of the bankruptcy case to prevent creditors from continuing collection efforts.
- The clerk of court forwards a notice of the bankruptcy filing to all creditors and parties in interest notifying them of the case filing and the date and times of the upcoming hearings.
- The first hearing is the 341 Meeting, also known as the First Meeting of Creditors. It is typically held within 30 to 45 days after the case is filed. It is a short hearing presided over by the Chapter 13 trustee.
- Creditors, the trustee, and other parties in interest have less than a month to file objections to your plan once it has been served.
- The second hearing is the Confirmation Hearing. This takes place approximately 60 days after your case is filed. At this time, the court hears arguments for any unresolved objections, makes a ruling, and confirms or denies the proposed plan. In most cases, our attorneys settle any issues before the Confirmation Hearing.
- Creditors file proofs of claim for the trustee to review, approve, or object. You do not need to do anything but continue paying your monthly payment unless otherwise directed by our office.
- Once you make all of your plan payments (usually 3 to 5 years), you will receive your bankruptcy discharge and your case will be closed.
If you are considering filing for Chapter 13 in Illinois, contact our office to discuss your Chapter 13 timeline in detail. We are always happy to answer all of your bankruptcy questions so that you can make an informed decision about the best course of action to take to resolve your debt problems.
Contact Our Office for a Consultation with an Experienced Illinois Bankruptcy Attorney
The bankruptcy lawyers of Pioletti Pioletti & Nichols represent individuals who need help solving their debt problems. We assist clients throughout McLean, Woodford, Tazewell, and Peoria counties by providing compassionate, competent legal services. Contact our office at 309-938-4838 to schedule your free consultation.
When you need the assistance of an experienced bankruptcy attorney in central Illinois, call Pioletti Pioletti & Nichols. We are dedicated to providing our clients with exceptional service and support throughout the bankruptcy process.