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What is a bankruptcy discharge?

Residents throughout New York may be struggling with a variety of financial challenges. These challenges can lead individuals to the bankruptcy court. A bankruptcy can provide individuals with much-needed debt relief. Specifically, a Chapter 7 bankruptcy can allow individuals to get the fresh financial start they need when dealing with overwhelming debt.

However, it is one specific part of the bankruptcy process that gives people this relief. This is the discharge. According to the U.S. Courts, a bankruptcy discharge is the process in which a person's personal liability for the debts included in the bankruptcy application are relieved. This process happens in a Chapter 7 bankruptcy around 60 to 90 days following the first meeting of the creditors.

With the discharge, most of individual's debts will be cleared. In a Chapter 7 bankruptcy this includes personal debt such as credit card debt. However, there are types of debt that are not dischargeable in a Chapter 7 bankruptcy. This includes certain taxes, student loans, child support and alimony and some debt related to personal injury cases. If a debt is not dischargeable, an individual will still be responsible for paying this debt following bankruptcy.

There are also situations where a trustee or other interested party can challenge the discharge in a bankruptcy case. Generally, this occurs when individuals have been engaging in fraud or other malicious conduct.

It is important for debtors to understand the Chapter 7 bankruptcy proceedings. The discharge is only one stage in the process. However, without the discharge, individuals may not get the financial relief they are seeking in the bankruptcy. For more specific legal information and advice, individuals in New York should consult with an attorney.

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