Augusta, GA Bankruptcy discharge

Augusta, GA Bankruptcy discharge

In a Chapter 7 bankruptcy, the individual files a petition in the court seeking to discharge all debts. The debtor may have secured debt and unsecured debt and how each of these is handled can differ from case-to-case. An individual filing under chapter 7 of the Federal Bankruptcy Code may have to relinquish a part of his or her property in order to satisfy some of the debts owed to the creditors.

The common grounds for denying a discharge to an individual debtor in Augusta, GA include:
1. Debtor’s failure to keep or produce adequate books or financial records;
2. Failure of the debtor to explain satisfactorily any loss of assets;
3. The debtor is guilty of a bankruptcy crime such as perjury;
4. Failure of the debtor to obey a lawful order of the bankruptcy court; or
5. The debtor fraudulently transferred, concealed, or destroyed property that would have become property of the estate.

The Chapter 13 debtor in Augusta, GA is entitled to get a discharge on successful completion of all payments under the repayment plan. In return for the willingness of the Chapter 13 debtor to undergo the discipline of a repayment plan for three to five years, a wider discharge is available under Chapter 13 than in a Chapter 7 case.

Generally, the debtor in Augusta, 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. Alimony and 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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We are Augusta GA bankruptcy lawyer | Georgia attorney that assist their clients in filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Augusta GA.