tease1220 asked:
My husband and I have decided to file Chapter 7. We have already contacted a bankruptcy attorney, but have not officially filed. We are going to surrender our house. It is worth less than what we owe on it. We are currently less than 1 month behind on our mortgage payment. How long after filing would we need to be out of the house? We don’t want to get notice and have to be out all of a sudden. By the way, we are filing in Illinois. Please…no responses about how bankruptcy is a bad thing. You don’t know our financial situation. Thank you.
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You have a couple of options. If you are wanting to buy time to stay in the home, and find a new place to live. You will have 45 days from the 341(Meeting of Creditors) to surrender the house. If you don’t, then the Automatic Stay will left and they can start getting you out of the house.
The 341 Meeting normally takes place about 30 days or so after filing.
However, some creditors will file a Motion For Relief, in order to speed up the Process. If that is filed, then you are probably looking at about 30 days or so before the Order is filed with the court, for the mortage company to move forward with getting the home.