The Law Offices of Chang and Carlin guide individuals and families through their financial struggles, helping them make a fresh start through Chapter 7 and Chapter 13 Bankruptcy.
The primary reason one files for Chapter 13 or Chapter 7 bankruptcy in Chicago is to receive a discharge of unmanageable debts. While some debts cannot be discharged, and others the debtor chooses not to discharge by reaffirming, the debtor almost certainly will have some debts they want to discharge when they file. So, to help you understand the process better, here is all you need to know about bankruptcy discharge.
What is discharge in bankruptcy?
According to Chang and Carlin, LLP’s experienced Chapter 7 bankruptcy lawyers in Chicago, a discharge is technically an order given by the bankruptcy judge which forgives remaining debts which cannot be paid, with certain exceptions. Debts for fraudulent or illegal actions, alimony and child support and taxes are not dischargeable and remain owed (but often not collectable if the bankrupt person has nothing). A discharge in bankruptcy is typically bad news for unsecured creditors.
When does a creditor receive bankruptcy discharge in Chapter 7?
The creditors as well as their bankruptcy trustee(s), have 60 days after the meeting of creditors to object to discharge. The meeting of creditors usually does not occur until at least a month after the case is filed. Combining that with the 60-day deadline means the debtor simply cannot get a discharge until at least three month after filing the case. The typical Chapter 7 bankruptcy proceeding generally lasts around 4 months.
A creditor or the trustee can file motions to extend time to object to discharge and these are routinely granted, particularly so when the debtor has not fully responded to any discovery attempts. Should someone file an objection to discharge, this is usually done by an adversary proceeding, and the debtor cannot ignore this if he wishes to get his discharge.
Finally, after everything has been cleared by the bankruptcy judge, the debtor receives a discharge.
Bankruptcy discharge is news that gives debtors a reason to heave a sigh of relief; and this can be best achieved by filing for bankruptcy with the help of an experienced Chicago bankruptcy lawyer.
To book your appointment today or for more information on Chapter 13 and Chapter 7 Bankruptcy Chicago, contact their offices at 1-866-790-8601 or Request a Free No Obligation Bankruptcy Filing Consultation Today.
Disclaimer: The content provided by Chang and Carlin, LLP is not legal advice and is purely for informational purposes. The information contained herein is not a substitute for the advice of an attorney and does not create an attorney-client relationship. If you are interested in obtaining information about Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Foreclosure services, or Real Estate legal services, call our law firm at 1-866-790-8601 for a Free Legal Evaluation. Chang and Carlin, LLP serves clients in Chicago, Schaumburg, Joliet, and Warrenville.
The primary reason one files for Chapter 13 or Chapter 7 bankruptcy in Chicago is to receive a discharge of unmanageable debts. While some debts cannot be discharged, and others the debtor chooses not to discharge by reaffirming, the debtor almost certainly will have some debts they want to discharge when they file. So, to help you understand the process better, here is all you need to know about bankruptcy discharge.
What is discharge in bankruptcy?
According to Chang and Carlin, LLP’s experienced Chapter 7 bankruptcy lawyers in Chicago, a discharge is technically an order given by the bankruptcy judge which forgives remaining debts which cannot be paid, with certain exceptions. Debts for fraudulent or illegal actions, alimony and child support and taxes are not dischargeable and remain owed (but often not collectable if the bankrupt person has nothing). A discharge in bankruptcy is typically bad news for unsecured creditors.
When does a creditor receive bankruptcy discharge in Chapter 7?
The creditors as well as their bankruptcy trustee(s), have 60 days after the meeting of creditors to object to discharge. The meeting of creditors usually does not occur until at least a month after the case is filed. Combining that with the 60-day deadline means the debtor simply cannot get a discharge until at least three month after filing the case. The typical Chapter 7 bankruptcy proceeding generally lasts around 4 months.
A creditor or the trustee can file motions to extend time to object to discharge and these are routinely granted, particularly so when the debtor has not fully responded to any discovery attempts. Should someone file an objection to discharge, this is usually done by an adversary proceeding, and the debtor cannot ignore this if he wishes to get his discharge.
Finally, after everything has been cleared by the bankruptcy judge, the debtor receives a discharge.
Bankruptcy discharge is news that gives debtors a reason to heave a sigh of relief; and this can be best achieved by filing for bankruptcy with the help of an experienced Chicago bankruptcy lawyer.
To book your appointment today or for more information on Chapter 13 and Chapter 7 Bankruptcy Chicago, contact their offices at 1-866-790-8601 or Request a Free No Obligation Bankruptcy Filing Consultation Today.
Disclaimer: The content provided by Chang and Carlin, LLP is not legal advice and is purely for informational purposes. The information contained herein is not a substitute for the advice of an attorney and does not create an attorney-client relationship. If you are interested in obtaining information about Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Foreclosure services, or Real Estate legal services, call our law firm at 1-866-790-8601 for a Free Legal Evaluation. Chang and Carlin, LLP serves clients in Chicago, Schaumburg, Joliet, and Warrenville.
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