Columbus, Georgia Bankruptcy discharge

Columbus, Georgia Bankruptcy discharge

Chapter 7 bankruptcy is a process in which an individual petitions the court to discharge all of their debts. The individual can have secured debt and unsecured debt and how each of these is handled can differ from case-to-case. An individual filing under chapter 7 of the Federal Bankruptcy Code may have to give up a portion of his or her 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 Columbus, Georgia include:
1. Debtor’s failure to keep or produce adequate books or financial records;
2. Failure of the debtor to explain satisfactorily any loss of assets;
3. The debtor committed 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 Columbus, Georgia is entitled to obtain a discharge upon successful completion of the payments under the Chapter 13 plan. In return for the willingness of the Chapter 13 debtor to undergo the discipline of a repayment plan for three to five years, a broader discharge is available under Chapter 13 than in a Chapter 7 case.
Generally, the individual in Columbus, Georgia is discharged from all debts provided for by the plan or debts that are rejected, except for the following:
1. Certain 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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Columbus Georgia bankruptcy lawyer | Bankruptcy attorneys in Columbus GA and Fort Benning – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Columbus GA and Fort Benning

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