Richmond Hill, 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. An individual seeking protection under chapter 7 of the US 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 general grounds for denying a discharge to an individual debtor in Richmond Hill, Georgia 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 committed 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 Richmond Hill, Georgia is entitled to obtain a discharge upon successful completion of all payments under the repayment plan. In exchange for the willingness of the Chapter 13 debtor to maintain 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.
Generally, the individual in Richmond Hill, Georgia is discharged from all debts provided for by the plan or debts that are disallowed, except for the following:
1. Certain 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.

———————
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