Chapter 7 Bankruptcy Discharge
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If creditors haven't filed a suit to stop you from getting out from under your debts within 60 days of the 341 meeting, the court will enter an order granting the "discharge" of all dischargeable debts that existed on the date the case was filed. What debts are discharged in Chapter 7?
Dischargeable
Personal LoansCredit cardsRepossession deficienciesAuto accident claimsJdgmentsBusiness debtsLeases Guaranties Negligence claims | Possibly Dischargeable
Property settlements or division of debts in divorce Willful and malicious injuries to othersEmbezzlement Debts incurred by fraud or dishonestyDebts arising from breach of fiduciary duty In order for these debts NOT to be discharged, creditors must ask the court to make a determination about them. Without a request from the creditor and a granting of that request by the court, these types of debts will be discharged. | Not Dischargeable
Recent taxesTrust fund taxesChild or family supportCriminal fine or restitutionAuto accident claims involving intoxicationDebts not scheduledPenalties payable to the government other than tax penaltiesStudent loans Debts listed in prior bankruptcy where debtor was denied a discharge |
Click here for more about Chapter 7
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