When filing a Chapter 7 bankruptcy in Georgia, it is normal to feel some degree of anxiety about whether it will be discharged. The thing to remember is that the majority of cases filed are discharged. In fact, the national average is greater than 99% of the cases filed are discharged through the courts. It is important to remember that most cases take in between 60 and 90 days to be discharged from the meeting of the creditors.
Why Your Bankruptcy Might be Denied
There are very few reasons why a Chapter 7 bankruptcy in Georgia might be denied. However, there are times when it happens. Some of the reasons which are common for denial include:
- Failed to attend credit counseling courses
- Deception or fraud of any kind regarding property or finances as reported in bankruptcy forms is discovered.
- Failed to obey bankruptcy court order
- Perjured or committed any other bankruptcy crime
- Unable to explain well loss of assets
- Unable to provide financial records or books that are useful
Reaffirming Debt
With Chapter 7 bankruptcy in Georgia, it is normal to have creditors reclaim property as well as debtors to give up property. Often debtors will choose to work out an agreement with the creditor in which they will resume paying off the debt through the company. This is called reaffirming the debt. This agreement must be filed with the court in order to explain what the intention is on both parties regarding the secured debt in question. This will allow you to keep the property without having to worry about repossession or loss. Bear in mind that even without an agreement through the court, you have the right to decide at any time to repay your debt to the creditor.
Debts that Cannot be Discharged Through Chapter 7
Even with a discharge through bankruptcy court, it is important to keep in mind that there are some debts which simply cannot be discharged. When you file Chapter 7 bankruptcy in Georgia, the debts which cannot be discharged include:
- Debts resulting from a criminal restitution order
- Debts which were incurred due to an accident which occurred while the debtor was intoxicated or abusing a substance.
- Debts which were incurred due to harm intentionally caused to another person by the debtor
- Debts which were incurred due to loans or overpayment from the government or guaranteed by the government for education
- Tax debt of certain kinds
- Debts involving child support or alimony
Debt Discharge Revocation
It is also good to keep in mind that there are some situations which might arise which will make a discharge where it is not final. If facts are presented later which will prove that a discharge was obtained through fraudulent claims than the discharge will be revoked and the debtor will be responsible for all previous debt as well as facing possible criminal charges for fraud. Revocation of Chapter 7 bankruptcy in Georgia may happen either because of the trustee, or a creditor.
Related Posts
- Discharge of Chapter 13 Bankruptcy in Georgia
- Business Debt and Chapter 7 Bankruptcy in Georgia
- Debts That Can Remain After Chapter 7 Bankruptcy in Georgia
- Business Debt and Chapter 7 Bankruptcy
- Who Can File for Chapter 7 in Georgia?
- Preparing for a Chapter 7 Bankruptcy in Georgia
- Remaining Debts After Chapter 13 Bankruptcy in Georgia
- Exempt vs. Non-Exempt Property in Chapter 7 Bankruptcy in Georgia
- Getting to know the Parties Involved in Chapter 7 Bankruptcy in Georgia
- Chapter 7 Bankruptcy Overview
