Know Your Bankruptcy Terms: Discharge

Bankruptcy Lawyers in San Diego - the discharge is the ultimate goal in filing bankruptcy. The discharge is when the bankruptcy court orders that you no longer have any personal liability on certain money you owe creditors. It also signals to creditors that they can no longer come after you for a debt that has been discharged. They can’t call you, send you letters or come knocking on your door. You are free from that debt.

The discharge generally only applies to unsecure debt.  Experienced bankruptcy lawyers in San Diego can explain this in more detail. For most consumers considering filing Chapter 7 or Chapter 13 the only secure debt will be a home loan or mortgage.

When the discharge goes into effect will be another thing your bankruptcy lawyers will have to counsel you on. For Chapter 7 cases, the court will generally grant the discharge after the time has expired for one of your creditors to object to the discharge. They will also grant the order if bankruptcy lawyers file a motion complaining that the debtor is abusing the bankruptcy system. If a creditor does object to the discharge of one of your debts, your San Diego bankruptcy attorney will have to file a response. For Chapter 7 cases, you are looking at about 3 to 4 months after filing the Chapter 7 petition. For Chapter 13 cases, the court will make every effort to issue the order as soon as possible after the last plan payment is made. Since Chapter 13 cases are planned payments, you are looking at between 3 and 5 years. Be careful, the Court has the authority to deny you discharge if you fail to complete your financial management courses. Your bankruptcy lawyers can point you in the right direction.

We at the Law Office of Harold D. Thompson are San Diego Bankruptcy Lawyers dedicated to helping you get out of financial distress. If your debts are piling up and you are looking for a “fresh start” call a San Diego Bankruptcy Lawyer that will fight for your rights. Call us TODAY at 619.615.0767 or visit one of our two websites at www.ThompsonLawSD.com or www.MySanDiegoBankruptcy.com

Related posts:

  1. Know Your Bankruptcy Terms: Meeting Of Creditors
  2. Know Your Bankruptcy Terms: Trustee

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