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

Tampa Bankruptcy Law Blog

I’m Unemployed. Can I Still File for Bankruptcy?

Unemployed Bankruptcy Being in debt is bad enough, but if you’ve lost your job recently or accumulated debt because of...
Read More

How Will Filing for Bankruptcy Affect My Credit?

Will Bankruptcy Affect My Credit? Not paying your bills affects your credit negatively. And yet problems with credit are one...
Read More

Behind or In Default on Your Student Loan? Here’s What You Should Know

Student Loan Default If you’ve fallen behind on student loan payments or your student loans are in default, you aren’t...
Read More

Will Bankrutcy Affect My Job? Learn How Filing Affects You in the Workplace

Will Bankruptcy Affect My Job? Filing for bankruptcy raises many considerations. One of the most important is whether or not...
Read More

Can Bankruptcy Help Me If I’m Behind on Child Support?

Bankruptcy and Child Support Bankruptcy can help you with a lot of things. It can help you stop calls from...
Read More

Can You File for Bankruptcy When You’re Unemployed?

Bankruptcy and Unemployment Being in debt is bad enough, but if you’ve lost your job recently or accumulated debt because...
Read More

Bankruptcy and Eviction History

Eviction With the rate of evictions on the rise in recent months and the expectations that eviction numbers will grow,...
Read More

What to Expect Once You’ve Decided to File Bankruptcy from Home

File Bankruptcy from Home There are a few things that happen when you file bankruptcy from home. An automatic stay...
Read More

Will Filing for Bankruptcy Affect My Job Search? What You Need to Know about Unemployment and Bankruptcy

Unemployment and Bankruptcy Searching for a job when you are faced with a dire financial situation is difficult. If you’ve...
Read More

Will I Need to Go to Court If I File for Bankruptcy?

File for Bankruptcy from Home One of the most intimidating aspects of filing for bankruptcy is meeting in person with...
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 comodo 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