Wednesday, February 15, 2012

Chapter 7 Atlanta Bankruptcy Law about Discharge

I have been researching about bankruptcy law in the past years. Being a legal research assistant in a law firm, I need to be familiarized with the law and its application depending on the case involved. I has also the opportunity to study particular cases with real scenarios of bankruptcy issues.

One of the most interesting topics involving bankruptcy law is Chapter 7, specifically on the topic of discharge of the debtor. In this post, we get some insights regarding Chapter 7 Atlanta bankruptcy law that will be helpful for debtors.

Basically, a discharge releases individual debtors from personal liability for most debts and prevents the creditors from collecting payments from them. The legal process is subject to different exceptions that is why it is necessary to ask the help of a bankruptcy lawyer, like an Atlanta bankruptcy attorney. The role of the lawyer is to help clients understand Chapter 7 of bankruptcy law about discharge and prepare the necessary documents for filing a discharge proceeding.

There are many circumstances that may cause denial of a discharge. These circumstances include the debtor: failed to keep or produce adequate books or financial records; failed to explain satisfactorily any loss of assets; committed a bankruptcy crime such as perjury; failed to obey a lawful order of the bankruptcy court; fraudulently transferred, concealed, or destroyed property that would have become property of the estate; or failed to complete an approved instructional course concerning financial management.

By the way, I am participating in a blogger campaign by Bucks2Blog and was
compensated. However, the views and opinions are my own.

1 comment:

Javed said...

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