Chapter 7 Discharge Form 1
Description
How to fill out Discharge Of Joint Debtors - Chapter 7 - Updated 2005 Act Form?
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FAQ
The court will annul a bankruptcy order once the court is satisfied that the bankrupt's debt are paid in full. (b) Discharge by Court Order under section 33(3) of Insolvency Act 1967; This application is filed by the bankrupt anytime to the court at any time after a bankruptcy order has been made.
Income is calculated by looking at the debtor's income for the six-months prior to filing. A debtor who previously had a higher income but has been laid off in the last year, for example, would be able to rely on their most recent income to satisfy the Means Test.
Closing Your Bankruptcy Case Your trustee only has control of your estate until the bankruptcy is complete. However, if something was in progress during your bankruptcy and you don't collect the money until later, your trustee could still gain access to it.
Any assets that the Official Receiver or the trustee held or claimed during your bankruptcy remain under the control of the Official Receiver or the trustee. They are not returned to you on discharge. It may be some time after your discharge before all your assets are dealt with.
Most Chapter 7 bankruptcy cases take between 4 - 6 months to complete after filing the case with the court. The order erasing eligible debts can be granted as early as 90 days from the date the case was filed. No-asset cases are typically closed a couple of weeks after the discharge date.