CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Everything You Need to Know about Bankruptcy Discharge

Discharge Is One of the Most Important Aspects of Bankruptcy.

In Chapter 7, once you’ve completed all of your paperwork and gone through the stress of the meeting of creditors, you reach the discharge and are released from your debts. This means you are no longer legally obligated to repay the money you owe. In Chapter 13, discharge occurs after you’ve completed your repayment plan.

When considering whether or not you should file for either type of bankruptcy, it’s important to realize that not all debts are dischargeable and not all bankruptcy cases end in discharge.

What’s this Mean for You?

Student loans, legal penalties or fees, or domestic support obligations included in your bankruptcy do not offer the relief of a discharge. And if you are caught making false statements when you file for bankruptcy, you can be denied discharge all together. Always remember, if you try to game the system your entire bankruptcy will fail.

For more information about which debts are and are not eligible for discharge, check out this article from FindLaw.com.

Creditors are also given an opportunity to object to their debt being discharged in your bankruptcy. Creditors that show up to the meeting must prove that your debt was incurred through fraud or that the money you owe them should not be included in the bankruptcy. A debt can also be dismissed if a creditor can show you did not comply with the rules and requirements, or that it is not eligible for discharge.

Chapter 7 vs. Chapter 13 Bankruptcy Discharge

Chapter 7 bankruptcy is all about the discharge. Your discharge is granted after the objection period for creditors expires, which is about 60 days after your meeting with the bankruptcy trustee. In most Chapter 7 cases, it takes about four to five months to get a discharge, assuming there are no objections or other situations that could delay the case.

In Chapter 13, your focus is on your repayment plan for the majority of the bankruptcy. The discharge comes after you’ve completed your repayment plan, which can be a three to five year process. Most Chapter 13 discharges occur about four to six months after the completion of the plan.

What Happens Once the Discharge is Complete?

Once your debts are discharged, either through Chapter 7 or Chapter 13, you are no longer obligated to repay those debts, unless it is shown there was fraud or wrongdoing associated with your bankruptcy case.

Keep in mind, the discharge is not the end of your bankruptcy case. Creditors have up to a year from the entry of discharge or the date your bankruptcy case is closed to ask that a discharge be revoked. And trustees remain the legal owner of your assets until the case is closed, so you’re unable to sell your home or make any significant financial decision without approval from the trustee.

There are instances in which it takes years to close a case – leaving you feeling helpless and out of control. This is one of the reasons it’s so important to have an attorney working with you when you file for bankruptcy. Not only for help with the process of filing and completing bankruptcy, but also to ensure your bankruptcy is completed and closed properly and within a reasonable period of time.

If you are considering bankruptcy and you have questions about how the discharge of your debts will work, or you would like to speak to someone about beginning the process, contact the Law Offices of Robert M. Geller at 813.254.5696 to schedule a free consultation.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

Can Leading a Frugal Lifestyle Prevent a Second Bankruptcy?

Changing your approach to spending is a necessity after bankruptcy. You’ll turn over some control of your finances to the...
Read More

Are Medical Issues Forcing You Into Bankruptcy?

Many Americans wind up in debt because of medical bills. One of the most common reasons for filing bankruptcy in...
Read More

Law Offices of Robert M. Geller, P.A. Congratulates Danielle Austin For Receiving the Patriot Award from the United States Department of Defense

Award Recognizes Support of Guard and Reserve Members Who Work for the Organization Tampa, Florida, June 29, 2021 – The...
Read More

Is Your 401k or Other Retirement Savings at Risk in Bankruptcy’s Liquidation of Assets?

If you’ve spent years saving for retirement, putting that money at risk when you file for bankruptcy is likely one...
Read More

Tips to Help You Protect Your Assets When You File for Bankruptcy

One of the most intimidating aspects of filing for bankruptcy is protecting your assets. Worrying about whether bankruptcy puts their...
Read More

How Does Bankruptcy Affect Vehicle Ownership? What Assets Can You Keep through the Bankruptcy Process and Does It Affect Your Car?

Many people struggling financially avoid filing for bankruptcy because of concerns about losing important assets like their vehicles. The good...
Read More

Is There a Legal Way to Hide Assets When You File for Bankruptcy?

Filing for bankruptcy can be an overwhelming experience. The relief you receive when you file helps you feel better about...
Read More

Do Bankruptcy Trustees Take Your Savings? What is Considered an Asset in Bankruptcy and How Does It Affect the Money You’ve Saved?

Bankruptcy trustees gain access to a variety of your assets when you file. But what is considered an asset in...
Read More

Can Filing for Bankruptcy Help You Protect Your House?

fiHow filing for bankruptcy affects your home is one of the greatest concerns people have when they consult with bankruptcy...
Read More

Should I Refinance a Student Loan I Can’t Discharge in Bankruptcy?

Student loan debt is overwhelming many people. Could refinancing be the answer to help you avoid bankruptcy if your student...
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

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo RG Seal

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