Warner Robin, GA Bankruptcy discharge

Warner Robin, GA Bankruptcy discharge

In a Chapter 7 bankruptcy, the individual files a petition in the court seeking to discharge all debts. The individual may have secured debt and unsecured debt and how each of these is dealt with can vary from case-to-case. An individual seeking protection under chapter 7 of the United States Bankruptcy Code may have to surrender a part of his or her goods in order to satisfy some of the debts owed to the creditors.

The usual grounds for denying a discharge to an individual debtor in Warner Robin, GA include:
1. The debtor failed to keep or produce adequate books or financial records;
2. Failure of the debtor to explain satisfactorily any loss of assets;
3. The debtor committed a bankruptcy crime such as perjury;
4. The debtor failed to obey a lawful order of the bankruptcy court; or
5. Fraudulent transfer, concealment or destruction by debtor of property that would have become property of the estate.

The Chapter 13 debtor in Warner Robin, GA is eligible to get a discharge on successful completion of all payments under the repayment plan. In exchange for the willingness of the Chapter 13 debtor to undergo the discipline of a repayment plan for 3 to 5 years, a wider discharge is available under Chapter 13 than in a Chapter 7 case.
As a general rule, the individual in Warner Robin, GA is discharged from all debts provided for by the plan or debts that are disallowed, except for the following:
1. Some long-term obligations such as a home mortgage;
2. Debts for alimony or child support;
3. Debts for most government-funded or guaranteed educational loans or benefit overpayments;
4. Debts arising from death or personal injury caused by driving while intoxicated or under the influence of drugs, which also refers to debts for restitution or a criminal fine included in a sentence on the debtor’s conviction of a crime.

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Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

http://www.macongabankruptcy.com