CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Can I Protect a Debt from Discharge?

Debt Discharge Pasco, St Petersburg, And Tampa Florida.Discharge of Debt in Bankruptcy

The discharge of debt is one of the main reasons people file for bankruptcy. In Chapter 7, filers receive a discharge from the court that says they are no longer legally obligated to pay the debt. The same happens in Chapter 13 after the bankruptcy payment plan is completed. Discharge is one of the most significant benefits of bankruptcy and it’s often what prompts someone to file.

The trouble with bankruptcy discharge, though, is that it doesn’t apply to all debts. Certain types of debt don’t get discharged and if you file, only to find out that a significant portion of your debt is still owed, your bankruptcy plan can backfire.

To learn more about the difference between dischargeable and non-dischargeable debts, check out this information from The Balance.

But what about debts you don’t want to be discharged? Are there ever times when someone filing for bankruptcy would want to protect a debt from discharge?

The answer is “maybe.”

It’s a question bankruptcy attorneys are asked frequently. Despite the benefits of discharge, some people just want to pay certain debts after bankruptcy. Reasons vary from person to person, but ultimately they want to pay the debt in question.

Regardless of why you choose to protect a debt from discharge, there are several things you need to know about how to handle that debt.

Some people filing for bankruptcy assume they can just not list that debt in their bankruptcy schedules. After all, if they intend to pay it and they don’t want it discharged, by both telling the court about it, right?

Wrong. And it’s a move that can get you into a lot of trouble.

Omitting a creditor, no matter your intentions can result in your case being dismissed. Not only will that debt not be discharged, neither will any of your other debts. The omission constitutes perjury, which is a federal crime.

Shielding Debts from Discharge

So what should you do if you want a debt protected from discharge?

One of your options is to voluntarily repay the debt after bankruptcy. Discharge of a debt means you are not legally obligated to pay it, but it doesn’t mean you can’t pay it. If you want to pay a creditor for a debt that was discharged, just go ahead and do it. You can pay in a lump sum or send in payments as you would have if you’d never filed for bankruptcy. And best of all, paying a debt after discharge creates no legal obligation, so even if you aren’t able to pay the total amount you can stop paying without any consequences.

You also have the option of reaffirming the debt. Reaffirmation is often used with vehicle loans and it requires court approval. If you’d like to learn more about reaffirming a debt or you think it could be an option for you, check out this explanation from Investopedia.

Finally, there are some cases where you won’t need to reaffirm a debt or voluntarily repay it because the debt automatically survives the bankruptcy. These are debts you don’t need to worry about protecting from discharge because they are non-dischargeable and you’ll be required to pay them. Debts that aren’t directly affected by bankruptcy discharge include child support obligations, recent income taxes, and student loans.

Deciding how to handle debt discharge and dealing with the specifics of your bankruptcy case is something you need to do with the guidance of an experienced professional. For more information or to schedule a consultation with a bankruptcy expert, contact the Law Office of Robert M. Geller at 813-254-5696 to discuss your situation.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

How Does Getting Married Affect Bankruptcy?

If you are considering bankruptcy, you may be wondering how getting married affects your ability to file. The answer is...
Read More

How Does Filing for Bankruptcy Affect a Vehicle Loan?

If you're considering bankruptcy, you may be wondering if you'll be able to keep your car. The answer depends on...
Read More

8 Ways to Deal with Student Loan Debt

If you're one of the millions of Americans saddled with student loan debt, you're probably looking for ways to minimize...
Read More

Tips for Handling Credit Card Debt

If you're struggling with credit card debt, you're not alone. The average American household owes nearly $6000 in credit card...
Read More

Don’t Fall for These Common Bankruptcy Myths

There are a lot of misconceptions out there about bankruptcy. Working with a debt defense attorney is one of the...
Read More

Can Filing for Bankruptcy Affect My Career?

It’s common for people considering bankruptcy to wonder how filing affects their job. The answer to this question depends on...
Read More

Can I Fix My Credit After Bankruptcy?

Wondering how to improve credit after bankruptcy? Here's what you need to know. Bankruptcy can be a fresh start for...
Read More

What Happens If I Can’t Afford Chapter 13 Bankruptcy?

Are you wondering what happens if I can’t afford my chapter 13 payments? Here's what you need to know when...
Read More

Help I Regret Filing for Chapter 7 Bankruptcy

Bankruptcy isn't the right choice for everyone. Depending on your unique financial situation, you may be able to find other...
Read More

How a Bankruptcy Attorney Helps You Avoid Problems When Filing

Do you know what mistakes to avoid when filing for bankruptcy? If you're considering filing for bankruptcy, it's important to...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions