{"id":286820,"date":"2021-01-27T11:24:29","date_gmt":"2021-01-27T16:24:29","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/bankruptcy\/after-bankruptcy\/what-happens-after-bankruptcy.html"},"modified":"2025-08-17T10:56:25","modified_gmt":"2025-08-17T15:56:25","slug":"what-happens-after-bankruptcy","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/bankruptcy\/after-bankruptcy\/what-happens-after-bankruptcy.html","title":{"rendered":"What Happens After Bankruptcy?"},"content":{"rendered":"\n
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What Happens After You File for Bankruptcy?<\/h1>\n\n
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\n By Susan Buckner, J.D.<\/a> | Legally reviewed by Jordan Walker, J.D.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

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After you file for bankruptcy, the process begins with the\u00a0court assigning\u00a0a trustee.\u00a0You’ll\u00a0attend a brief 341 meeting of creditors, and an automatic stay will\u00a0immediately stop\u00a0most collection efforts and wage garnishments. Under a\u00a0Chapter 7 bankruptcy, the trustee may sell nonexempt property to pay creditors.\u00a0With a\u00a0Chapter 13, you’ll\u00a0make payments under a court-approved plan, allowing you\u00a0to\u00a0keep property if you stay current.\u00a0When the judge issues a discharge, eligible debts are wiped out and creditors can no longer collect on them. Certain obligations, like child support, many types of\u00a0taxes, and most student loans, typically remain. A bankruptcy appears on your credit report for seven to 10\u00a0years, but you can begin rebuilding credit with on-time payments and responsible use of new or secured credit.<\/i><\/p>\n\n <\/div>\n\n\n\n

Bankruptcy gives you a chance to start over with your finances. Before you file, it’s a good idea to know what will happen once the\u00a0bankruptcy process finishes.<\/p>\n

This article outlines what\u00a0to expect\u00a0after you file for either\u00a0Chapter 13<\/a>\u00a0and\u00a0Chapter 7 bankruptcy<\/a>, and what happens when you receive your bankruptcy discharge.<\/p>\n

What Happens After You File for Bankruptcy?<\/strong><\/h2>\n

The following things will happen after you file for bankruptcy:<\/p>\n

The Court Assigns a Bankruptcy Trustee<\/strong><\/h3>\n

Once you file, a\u00a0bankruptcy trustee<\/a>\u00a0is assigned to your case. This trustee is in charge of\u00a0administering your bankruptcy filing<\/a>. Depending on how you filed, the trustee will either:<\/p>\n