Bankruptcy Without Discharge

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Bankruptcy Without Discharge

Call: 888-297-6203

Bankruptcy and discharge are something that is assumed to go hand in hand under most scenarios. However, it is important to note that not all bankruptcies will result in discharge. To make sure your bankruptcy case results in the highest discharge and best possible outcome, do not forget to connect with the top attorneys from Los Angeles & Dallas, TX at 888-297-6203. There are certain rules and regulations to avail discharge. These can be listed as follows-

In case of a chapter 7 bankruptcy filing, to avail discharge, the filer must-

  • File accurate information through a statement of financial affairs, schedules, and supporting documents.
  • Additionally, the debtor should also attend the 341 meeting of creditors that is conferred soon after the bankruptcy petition is accepted.
  • The debtor also should complete the financial management course before the judgment of discharge is passed.
  • Finally, the debtor should hand over the nonexempt property and cooperate fully with the bankruptcy trustee and the lenders to liquidate the nonexempt assets.

In case of a chapter 13 bankruptcy filing, to avail discharge, the filer must-

  • Propose an honest and accurate payment plan to cover the maximum of debt repayment in good faith
  • Once, the plan is accepted by the bankruptcy court, it is essential to abide by the plan and make consistent payments as per the plan
  • Any delay or overdue or non-payment as per the bankruptcy court’s payment plan post-bankruptcy can lead to zero discharge orders

What happens during case dismissal?

Apart from zero discharge judgments, case dismissal poses a greater threat to the filer. Sometimes, depending on the stage case is, the asset forfeited by the bankruptcy trustee might still be liquidated and sold out without impacting bankruptcy. This is a rare situation, but a debtor might lose out on an asset without the bankruptcy going through. Any of the above steps when missed can have dismissal consequently. The debtor must facilitate additional information, documentation, or satisfactory explanation to bankruptcy trustee questions, or the case might be dismissed.

Once dismissed, the filer will have to wait for a few days before filing again. If the court dismisses the bankruptcy petition on grounds of fraud or incorrect or inaccurate data, the filer might not be able to file for bankruptcy for over 180 days. The stay on the lender’s collection activity is valid only for the first 30 days of the filing, multiple filings and dismissals might not help prevent instant foreclosures or lender collection activities. To know more about bankruptcy, stay, procedures, and chapters, log on to