Bankruptcy Timeline Calculator

Frequently Asked Questions

How long does Chapter 7 take?

A typical Chapter 7 case takes 4-6 months from filing to discharge. The 341 meeting of creditors is held about 30-45 days after filing, and discharge usually issues 60-90 days after that meeting. Asset cases involving liquidation can stay open longer while the trustee administers property.

How long does Chapter 13 take?

Chapter 13 repayment plans run 3 years (if income is below state median) or 5 years (if above). Discharge issues only after all required plan payments are made. Plan modifications, defaults, and conversions to Chapter 7 are common during the multi-year period.

How much does bankruptcy cost?

Court filing fees are $338 for Chapter 7 and $313 for Chapter 13 (2024). Attorney fees commonly run $1,000-$2,500 for a routine Chapter 7 and $3,500-$6,000+ for Chapter 13 (often paid through the plan). Pre-filing credit counseling and post-filing debtor education courses cost $10-$50 each.

Should I consult a bankruptcy attorney?

Almost always yes. Chapter choice, exemption planning, and timing can dramatically affect what assets you keep and what debts are discharged. Many bankruptcy attorneys offer free consultations. Pro se filings have much lower success rates, especially in Chapter 13.

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Legal Disclaimer: Information only. Not legal advice.

This calculator provides information for educational purposes only and does not constitute legal advice. Laws vary by jurisdiction and individual circumstances. Do not rely on this tool for legal decisions. Consult a licensed attorney in your jurisdiction for legal advice.

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How This Calculator Works

The three consumer and business bankruptcy chapters differ enormously in how long they take, what they cost, and how long they sit on your credit. This tool lays out an estimated timeline of phases, a total-cost range, and a credit-impact horizon for whichever chapter you choose, and it runs a simplified Chapter 7 means-test screen against the median income for your household size. You select the chapter (7, 13, or 11), enter your total unsecured debt, your monthly household income, and your household size; the calculator returns estimated cost, a min–max timeline in months, an ordered phase list, and an eligibility note.

Formula / Method

Each chapter carries baseline figures: Chapter 7 lasts 3–6 months with $1,200–$2,500 attorney fees and a $338 filing fee, staying 10 years on credit; Chapter 13 runs 36–60 months with $3,000–$6,000 fees and a $313 filing fee, 7 years on credit; Chapter 11 spans 12–36 months with $15,000–$100,000 fees and a $1,738 filing fee. Estimated total cost = midpoint attorney fee + filing fee, with a low–high range around it. The means test compares annual income (monthly × 12) to the household median (1 person $65,000, 2 $82,000, 3 $98,000, 4 $115,000, 5 $124,000): at or below median likely qualifies for Chapter 7, above it may force Chapter 13. Chapter 13 also flags debt over the $2.75M aggregate limit.

Worked Example

A 2-person household with $85,000 unsecured debt and $4,500/month income chooses Chapter 7. Annual income = 4,500 × 12 = $54,000, which is below the $82,000 two-person median - so the means-test screen says the filer likely qualifies. Estimated cost = midpoint attorney fee (1,200 + 2,500) ÷ 2 = $1,850, plus the $338 filing fee = $2,188, within a $1,538–$2,838 range. The timeline runs 3–6 months: pre-filing counseling, petition and automatic stay, the 341 meeting of creditors around month 1, trustee asset review, then the discharge order and case closing by months 4–6.

Common Mistakes

Assuming everyone qualifies for Chapter 7 - income above the household median triggers a fuller means test that can push you to Chapter 13.

Expecting all debt to vanish: recent taxes, most student loans, child support, criminal fines, and fraud judgments are not dischargeable.

Underbudgeting Chapter 11, which can run $15,000 to $100,000+ and is built for businesses, not typical consumers.

Ignoring fee waivers and installment plans available to low-income Chapter 7 filers.

Treating the credit hit as permanent - the filing ages off after 7–10 years and scores usually rebuild well before that.

Tips & FAQ

What is discharged? Credit cards, medical bills, personal loans, and deficiency balances typically are; recent taxes, student loans (rare exceptions), domestic support, and fraud judgments are not. How bad is the credit impact? Scores often drop 130–200+ points at filing, but many filers reach 650+ within about two years using secured cards and on-time payments. Are there alternatives? A debt-management plan through a credit counselor, a negotiated settlement (often 40–60 cents on the dollar), a consolidation loan, or selling assets may avoid filing altogether. Which chapter fits? Chapter 7 liquidates and discharges fast; Chapter 13 repays from income over 3–5 years while you keep your home and car; Chapter 11 reorganizes a business. This tool is educational planning only and not legal advice - medians, fees, and debt limits change, and outcomes turn on exemptions and case facts, so consult a licensed bankruptcy attorney before filing.

Bankruptcy Timeline Calculator

Frequently Asked Questions

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