What is a Discharge in Bankruptcy? When debts are discharged in a personal bankruptcy, the debtor is released from his or her liability for specific types of debts and will no longer be required to pay for them. The court will prohibit further creditor contact and action on any debts that have been discharged through the court.
In most cases, the discharge in a chapter 7 or chapter 13 bankruptcy is automatic, which means you do not have to do anything to receive it once your bankruptcy forms have been filed and you have met all your obligations. However, if a creditor objects, litigation may delay the discharge. Some debts, such as child support, alimony, and student loans, may be considered non-dischargeable. Our bankruptcy attorney in Los Angeles can help you determine which of your debts are dischargeable and which are not, as well as determine which set of California bankruptcy exemptions may be best for your situation. In some cases, the discharge may be revoked in a Chapter 7 bankruptcy if it is determined that the debtor behaved fraudulently, concealed property or assets, or otherwise behaved inappropriately during the course of the bankruptcy case. The discharge may be able to be revoked at any time during the year following the discharge. After you receive a discharge in your personal or business bankruptcy, you will need to begin to slowly and carefully begin to rebuild your credit. Many times this can be done by obtaining a secured credit and making payments in full and on time. Talk to the financial institution from which you obtained the card or cards to ensure your prompt payments are being reported to all three major credit bureaus. Contact our bankruptcy lawyer in California today to learn more about your options or to schedule your consultation. Source: Hamid Soleimanian, Bankruptcy Attorney Los Angeles Back to Blog |
FREE Consultation
Testimonials
Olivia - Oxnard, CA
Hamid Soleimanian settled my personal injury case for $390,000.00. I was well prepared to go to trial, and was my case.