How To Be Discharged Of The Debts Included In A Chapter 13 Bankruptcy
A chapter 13 bankruptcy may supply many different advantages to a debtor who is inundated with debt. Frequently, the most important advantage of a chapter 13 bankruptcy to the debtor is the court ordered discharge. The discharge releases the debtor of liability for all the debts that are included in the payment plan. Lenders who are incorporated in the payment plan may not initiate or prolong any court or other action against the debtor to collect a debt that has been discharged by the chapter 13 bankruptcy. Recently, the chapter 13 bankruptcy laws covering the discharge have undergone significant changes. Therefore, it may be highly beneficial for debtors to get advice from an experienced Tampa bankruptcy attorney prior to petitioning for a chapter 13 bankruptcy. A seasoned Tampa bankruptcy lawyer can give a debtor valid information on the fluid bankruptcy laws and provide a sound legal strategy to alleviate the financial burden.
The requirements which debtors must satisfy before petitioning the court for a discharge will vary. However, there are usually three requirements all applicants must meet prior to being eligible for a chapter 13 bankruptcy discharge. First, the applicant will be required to verify that all payments which were due under the payment plan have been paid in full. Secondly, the debtor has to verify there have been no prior bankruptcy discharges within the preceding two years. Thirdly, the applicant must prove that he has completed the financial management course, which either the trustee or court ordered. However, there are various other conditions which will prevent a debtor from being awarded a discharge even if these three general requirements are met. Therefore, debtors should always meet with a trained Tampa bankruptcy attorney when seeking a discharge. A seasoned Tampa bankruptcy lawyer can help a debtor avoid many of the pitfalls that can occur to debtors seeking chapter 13 bankruptcy protection.
Filing for a chapter 13 discharge may be a perplexing and intimidating process. However, the Tampa bankruptcy lawyers at Florida Law Group will help. The Tampa bankruptcy attorneys at Florida Law Group will answer all of your legal questions and offer a sound legal strategy to help alleviate your financial burden.
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