Can you agree that a debt is not dischargeable in bankruptcy?
In order to ensure that the defendant’s settlement obligations will survive a bankruptcy discharge, an agreement providing that the debt will be non-dischargeable is not enforceable and therefore will not work.
What does Case closed without discharge mean?
If a bankruptcy case is closed without a discharge because an individual debtor did not timely file a Certificate of Completion of Instructional Course Concerning Personal Financial Management, a debtor must file a Motion to Reopen the Case. Closing does not necessarily mean that all adversary proceedings are finished.
Can a debt be discharged in a Chapter 7 bankruptcy?
If you file a bankruptcy case under Chapter 7, not all debts are eliminated (or “discharged”) once the bankruptcy process is complete. Generally speaking, in a Chapter 7 proceeding, the following types of debts are not discharged: Debts that were not listed at the start of the case (or debts for unlisted creditors).
Can a mortgage be discharged in a bankruptcy?
Mortgage and Other Secured Debts Will be Discharged. A while back I discussed which debts are dischargeable in bankruptcy. Mortgage debts, and other secured debts–such as those on vehicles–are also dischargeable in bankruptcy in most cases. This means that the obligation to pay on the underlying mortgage…
When does a Chapter 7 bankruptcy case close?
If you have a simple no-asset Chapter 7 bankruptcy, the trustee will file a report of no distribution (also called a no asset report) with the court. In that case, the court will typically close your case shortly after you receive your discharge.
Can a mortgage company foreclose if you file Chapter 7 bankruptcy?
Because Chapter 7 does not eliminate the mortgage lender’s lien on your house, the lender can still foreclose if you don’t make your monthly payments on time. Additionally, most mortgage loan documents provide that if a borrower’s personal liability under the mortgage is discharged, then the lender has the automatic right to foreclose.
