Should you file for personal bankruptcy, or Chapter 7 bankruptcy, your filing period could last just a few months to under a year. This is short when compared to other types, such as Chapter 13 bankruptcycases, that can take from 3 to 5 years on average.
Depending on your income and other factors, Chapter 7 bankruptcy may be a viable option for you. To file for this bankruptcy type, you need to file your petition at your local bankruptcy court. Once the document has been received, you will be scheduled for a Meeting of Creditors. At this meeting, a bankruptcy trustee will ask you about your bankruptcy-related documents, and your creditors are allowed to attend the meeting to ask questions as well.