Athens, Georgia Bankruptcy discharge

Athens, Georgia 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 handled can vary from case-to-case. A debtor seeking protection under chapter 7 of the Federal Bankruptcy Code may have to give up a part of their personal 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 Athens, Georgia include:
1. Failure of the debtor to keep or produce adequate books or financial records;
2. Debtor’s failure 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 Athens, Georgia is eligible to obtain a discharge upon successful completion of entire 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 individual in Athens, Georgia is discharged from all debts under the plan or debts that are rejected, except for the following:
1. Certain 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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Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy