A Chapter 7 bankruptcy may provide a person inundated with debt some relief. A Chapter 7 bankruptcy gives the debtor an opportunity to liquidate certain assets in exchange for a discharge from debts owed. Creditors included in the bankruptcy will be prohibited from taking any further collection action against the debtor once the discharge is granted by the court. However, under certain situations the discharge may be revoked. To prevent the discharge from being revoked debtors seeking bankruptcy protection should always consult a Tampa bankruptcy lawyer before initiating any bankruptcy action. An experienced Tampa bankruptcy attorney will be well informed of the applicable bankruptcy laws and can help prevent a Chapter 7 discharge from being revoked.
A Tampa bankruptcy attorney should always consult his client on the possible circumstances that may give rise to a discharge being revoked. One of the most common situations that result in discharges being revoked is failing to disclose certain property owned by the debtor. If the debtor does not disclose property that would constitute property of the bankruptcy estate that he acquired or is entitled to acquire it may give rise to a discharge revocation. Often, debtors will try to conceal property they own or are entitled to in an effort to avoid liquidation of the property. Bankruptcy courts take this type of concealment very seriously and have historically been very harsh on debtors who attempt to conceal property, which may be part of the bankruptcy estate.
In addition, a discharge may be revoked if the debtor refuses to cooperate with reasonable requests made by the court or bankruptcy trustee. All requests made by the bankruptcy trustee or court should be answered by the client’s Tampa bankruptcy lawyer to ensure the response or lack of response does not constitute grounds for revocation. For instance, if the debtor fails to make certain accounts, documents and financial records available to the court it may be grounds for revocation. Under current bankruptcy law, the debtor does have a right to keep certain documents from the bankruptcy trustee; however, determining which documents are privileged should always be a decision left to the Tampa bankruptcy lawyer.
The bankruptcy court and trustee has the right to request a revocation of discharge within one year of the discharge being approved by the court. If the request for revocation is made after the date specified in the bankruptcy law revocation will not be permitted.
Filing for bankruptcy protection may be a very confusing and intimidating process. However, the Tampa bankruptcy lawyers at Florida Law Group can help. The Tampa bankruptcy attorneys at Florida Law Group can answer all of your legal questions and assist you with your bankruptcy petition every step of the way.
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