What is Bankruptcy Discharge?
Bankruptcy discharge is the single most significant outcome anyone could want in the face of a bankruptcy filing.
With a bankruptcy discharge in effect, no creditors that has been mentioned in the bankruptcy petition can ever take any legal (or illegal) actions against you to recover the debt.
Is it hard to get a bankruptcy discharge Unless the court suspects there is fraud involved in your case, bankruptcy discharge is usually awarded to those who had filed for bankruptcy.
Bankruptcy is not an easy process and you should not take it lightly.
It is even harder to file bankruptcy because of the new law that has been passed in 2005.
Even with all these obstacles, most people who are filing, almost all of them will receive a bankruptcy discharge.
Who will be the one to decide if you can have a bankruptcy discharge? For every bankruptcy case, there is a judge who will be presiding over the case.
The judge will be one who determines if your case will be discharged or dismissed.
Bankruptcy is not conducted like your regular law cases.
If you are filing, you do not need to be present in front of the judge.
The judge will reexamine all the documents and evidences presented to him/her by the trustee and grant or deny you the bankruptcy discharge.
The bankruptcy judge makes the final determination on your bankruptcy case even though the bankruptcy trustee can make suggestion to the judge.
Bankruptcy dismissal is a rare case whereas bankruptcy discharge is the most frequent outcome.
If the bankruptcy judge believes you are hiding assets from creditors, your case can be dismissed.
It is probable that a particular bankruptcy case can be closed without a discharge if you do not complete your credit counseling courses.
Is bankruptcy discharge affected by the actions of the creditors? Even though the creditors cannot directly challenge the bankruptcy discharge, they have the option to complain about such discharge during the 341 meeting, or the 30-45 day period after the 341 meeting.
The creditors will have to submit to the bankruptcy court supporting evidence to justify their claim that the debt that you owe to them should survive the bankruptcy.
Even if the court finds the creditor's claim valid, you can have one debt survive the bankruptcy process while the rest of the debt can be discharged.
Non-dischargable debt from one case will survive all following bankruptcy case.
This means that once a debt is deemed non discharge, the debtor will become responsible for it until the entire debt is paid off to the creditor.
With a bankruptcy discharge in effect, no creditors that has been mentioned in the bankruptcy petition can ever take any legal (or illegal) actions against you to recover the debt.
Is it hard to get a bankruptcy discharge Unless the court suspects there is fraud involved in your case, bankruptcy discharge is usually awarded to those who had filed for bankruptcy.
Bankruptcy is not an easy process and you should not take it lightly.
It is even harder to file bankruptcy because of the new law that has been passed in 2005.
Even with all these obstacles, most people who are filing, almost all of them will receive a bankruptcy discharge.
Who will be the one to decide if you can have a bankruptcy discharge? For every bankruptcy case, there is a judge who will be presiding over the case.
The judge will be one who determines if your case will be discharged or dismissed.
Bankruptcy is not conducted like your regular law cases.
If you are filing, you do not need to be present in front of the judge.
The judge will reexamine all the documents and evidences presented to him/her by the trustee and grant or deny you the bankruptcy discharge.
The bankruptcy judge makes the final determination on your bankruptcy case even though the bankruptcy trustee can make suggestion to the judge.
Bankruptcy dismissal is a rare case whereas bankruptcy discharge is the most frequent outcome.
If the bankruptcy judge believes you are hiding assets from creditors, your case can be dismissed.
It is probable that a particular bankruptcy case can be closed without a discharge if you do not complete your credit counseling courses.
Is bankruptcy discharge affected by the actions of the creditors? Even though the creditors cannot directly challenge the bankruptcy discharge, they have the option to complain about such discharge during the 341 meeting, or the 30-45 day period after the 341 meeting.
The creditors will have to submit to the bankruptcy court supporting evidence to justify their claim that the debt that you owe to them should survive the bankruptcy.
Even if the court finds the creditor's claim valid, you can have one debt survive the bankruptcy process while the rest of the debt can be discharged.
Non-dischargable debt from one case will survive all following bankruptcy case.
This means that once a debt is deemed non discharge, the debtor will become responsible for it until the entire debt is paid off to the creditor.
Source...