For anyone who is filing bankruptcy, the discharge document is the ultimate “prize” that the person could want to attain. When your bankruptcy petition has been discharged in the court of law, the creditors you have listed in the petition can no longer take legal actions against you to recoup the debt.
Can I get a bankruptcy discharge?
Under regular situation, you will most likely receive the bankruptcy discharge, unless the court system can justify the suspicion of fraud being conducted. Bankruptcy is not an easy process and you should not take it lightly. It is even harder to file bankruptcy because of the new bankruptcy law that has been passed in 2005. Even with all these obstacles, most people who has filed for bankruptcy, almost all of them will receive a bankruptcy discharge.
Who can issue the bankruptcy discharge?
A bankruptcy judge is assigned to each bankruptcy case that has been submitted into the bankruptcy court. The job of the bankruptcy judge is to ascertain the final outcome of the bankruptcy case. Bankruptcy case is unlike any other law cases. Bankruptcy case is not conducted in front of the bankruptcy judge. The bankruptcy judge’s responsibility is to use the documents gathered throughout the entire bankruptcy process and decide if the bankruptcy case should be dismissed or discharged. Even though the trustee can make recommendation to the bankruptcy judge to deny you the discharge ruling, the judge has the final say in this affair.
It is not impossible to be denied a bankruptcy discharge, but it is not a frequent event. If the bankruptcy judge believes you are hiding assets from creditors, your case can be dismissed. The bankruptcy credit counseling courses are so important that if you do not complete them, your bankruptcy case can be closed without a discharge or dismissal.
Is bankruptcy discharge affected by the actions of the creditors?
The creditors all have the chance to challenge your bankruptcy discharge during the 341 meeting, or even the 30-45 days after the 341 meeting. The creditors are all given many chances to submit the supporting documents to convince the bankruptcy judge that your case should not be discharged. While the creditors can make the recommendation to have the case or debt responsible by the debtor, the bankruptcy judge can discharge the total case or just the specific debt.
In the case that a particular debt is not discharged, this debt can never be discharged in another bankruptcy case. If you need additional information on bankruptcy, please visit our website at ToFileBankruptcyOrNot.com.
Steve Sanchez has recently overcome the economic depression of 2008-2009 by declaring bankruptcy. Even though bankruptcy has devastated Steve financially and emotionally, Steve has rebuilt his businesses in the last 6 months and he has not looked back since.One of his project is to educate people on bankruptcy. Having gone through the ordeal himself, he has first hand knowledge of the pros and cons of filing for bankruptcy protection. Please visit his site http://ToFileBankruptcyOrNot.com if you want additional information regarding bankruptcy.