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A Chapter 7 bankruptcy wipes out your financial debt, including your mortgage, but you could lose your house. A Chapter 13 bankruptcy is more of a reorganization, and you can even catch up on payments as long as these are included in your plan.
? Lien avoidance protects an individual debtor's. right to exempt property. ? A debtor can avoid judicial liens and non- possessory, non-purchase money security. interests in household goods (?NPMSIs?) to the extent that the lien or NPMSI ?impairs? the debtor's exemption in the property.
Debts not discharged include debts for alimony and child support, certain taxes, debts for certain educational benefit overpayments or loans made or guaranteed by a governmental unit, debts for willful and malicious injury by the debtor to another entity or to the property of another entity, debts for death or personal ...
Closed Without a Discharge Cases are closed without discharge when the debtor does not complete the required debtor education required as a condition of discharge. The court may also close your case without discharge if you failed the last step for getting rid of debt. Your filing may not have been filed timely.
In order to avoid a lien under § 522(f), the debtor must show: (1) that he has an interest in the homestead property; (2) he is entitled to a homestead exemption; (3) the asserted lien impairs that exemption; and (4) the lien is a judicial lien.