Savannah Georgia Bankruptcy discharge

Chapter 7 bankruptcy is a process in which an individual petitions the court to discharge all of their debts. The debtor may have secured debt as well as unsecured debt and how each of these is handled can differ from case-to-case. A debtor filing under chapter 7 of the Federal Bankruptcy Code may have to give up a part of their personal assets in order to satisfy some of the debts owed to the creditors.

The usual grounds for denying a discharge to an individual debtor in Savannah Georgia include:
1. Failure of the debtor to keep or produce adequate books or financial records;
2. The debtor failed to explain satisfactorily any loss of assets;
3. The debtor is guilty of a bankruptcy crime such as perjury;
4. Debtor’s failure 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 Savannah Georgia is entitled to get a discharge on successful completion of all payments under the repayment plan. In exchange for the willingness of the Chapter 13 debtor to undergo the discipline of a repayment plan for 3 to 5 years, a wider discharge is available under Chapter 13 than in a Chapter 7 case.

As a general rule, the individual in Savannah Georgia is discharged from all debts under the plan or debts that are rejected, except for the following:
1. Some 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.

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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