Houston Bankruptcy Attorney

Discharging Debt in Bankruptcy

For those who are currently struggling with their debt and having a hard time keeping their head above water, filing for bankruptcy is often a viable and useful solution. Bankruptcy can give those who need a way to get their feet back underneath and their finances under control once more. One of the primary, if not the main, goals of filing for bankruptcy is to get as many of debts discharged as possible. It is surprising then to know just how little is understood about the discharge of debts.

Discharging debt is, very simply, allowing the debtor to be released from all legal requirements to pay the debts off. It is a permanent act that legally binds the creditors from taking further action to collect on the debt, stopping creditor harassment that includes phone calls, letters and threats of foreclosure.

Discharge happens at different times within the timeline of a bankruptcy depending completely on the chapter. Within a Chapter 7 filing, a discharge will most likely happen at the expiration of the sixty days allowed for complaints allowed to be filed in objection to the discharge. In a Chapter 11, however, the discharge is granted as soon as all payments in the plan are paid off. It takes typically four years in a Chapter 13 case.

It is unlikely that every single one of your debts will be discharged, however, as there are certain debts that are legally exempted from chance of discharge. These vary and can change from case to case depending on the chapter, but can include, for example, debts for spousal support and debts for personal injury caused by the debtor. Debt discharge is by no means a simple thing to understand and can often fall into the complex, turbulent language of the law. For this reason, it is imperative that as soon as you consider bankruptcy as a possible option for your situation, you contact an experienced bankruptcy lawyer at the Malaise Law Firm. By working with an attorney well-versed in the legal aspect of the process, you can breathe easier knowing that your future is in trustworthy hands.

To receive your initial case consultation, contact a Houston Bankruptcy Lawyer at the Malaise Law Firm today.