The length of the bankruptcy process depends on a variety of factors, including the type of bankruptcy filed and the income level of the debtor. Chapter 7 bankruptcies are usually completed within three months of the filing date, with more complex cases taking longer. Because there is so much variety in the sizes, structures, assets, liabilities and complexities of businesses, Chapter 11 cases vary greatly in length. Chapter 13 cases establish payment plans, which typically last for three to five years.
To find out more information about bankruptcy in Minnesota, please read our FREE book: What You Need to Know Before You File For Bankruptcy in Minnesota.
Contact our office to schedule an appointment to speak with us. You can reach us by using our online form. We can also be reached by phone at 952.388.2942 or toll free at 800.619.8991. Our attorneys can help you to decide whether bankruptcy is right for you and, if so, which type makes the most sense for your particular circumstances. Different types of bankruptcy have different eligibility requirements, and so it is very important that you consult with an attorney prior to planning any bankruptcy-related action.