Richmond County, GA Bankruptcy discharge

Richmond County, GA Bankruptcy discharge

Chapter 7 bankruptcy is a process in which an individual petitions the court to discharge all of their debts. The individual may have secured debt and unsecured debt and how each of these is handled can vary from case-to-case. A debtor seeking protection under chapter 7 of the Federal Bankruptcy Code may have to relinquish a part of his or her goods in order to satisfy some of the debts owed to the creditors.

The usual grounds for denying a discharge to an individual debtor in Richmond County, GA include:
1. Failure of the debtor to keep or produce adequate books or financial records;
2. The debtor failed to explain satisfactorily any loss of assets;
3. The debtor committed a bankruptcy crime such as perjury;
4. The debtor failed 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 Richmond County, GA is eligible to get a discharge upon successful completion of entire payments under the Chapter 13 plan. In exchange for the willingness of the Chapter 13 debtor to maintain the discipline of a repayment plan for 3 to 5 years, a broader discharge is granted under Chapter 13 than in a Chapter 7 case.
Usually, the individual in Richmond County, GA is discharged from all debts under the plan or debts that are disallowed, except for the following:
1. Some long-term obligations such as a home mortgage;
2. Alimony and 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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We are Augusta GA bankruptcy lawyer | Georgia attorney that assist their clients in filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Augusta GA.