Liberty County, GA Bankruptcy discharge
In a Chapter 7 bankruptcy, the individual files a petition in the court seeking to discharge all debts. The individual can have secured debt as well as unsecured debt and how each of these is handled can change from case-to-case. An individual filing under chapter 7 of the US Bankruptcy Code may have to surrender a part of his or her property in order to satisfy some of the debts owed to the creditors.
The usual grounds for denying a discharge to an individual debtor in Liberty County, GA include:
1. The debtor failed to keep or produce adequate books or financial records;
2. Debtor’s failure to explain satisfactorily any loss of assets;
3. The debtor is guilty of a bankruptcy crime such as perjury;
4. The debtor failed 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 Liberty County, GA is entitled to get a discharge on successful completion of entire payments under the repayment plan. In exchange 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 granted under Chapter 13 than in a Chapter 7 case.
Usually, the individual in Liberty County, GA is discharged from all debts provided for by 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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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill – Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA
http://www.savannahgabankruptcy.com
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