South Carolina Post Bankruptcy Petition Discharge Letter
Description
How to fill out Post Bankruptcy Petition Discharge Letter?
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FAQ
A bankruptcy discharge, also known as a discharge in bankruptcy, refers to a permanent court order that releases a debtor from personal liability for certain types of debts. It is sometimes referred to simply as a discharge and comes at the end of a bankruptcy.
Assuming that everything goes according to schedule, you can expect to receive your bankruptcy discharge (the court order that wipes out your debts) about 60 days after your 341 meeting of creditors hearing, plus a few days for mailing.
The bankruptcy is reported in the public records section of your credit report. Both the bankruptcy and the accounts included in the bankruptcy should indicate they are discharged once the bankruptcy has been completed. To verify this, the first step is to get a copy of your personal credit report.
Since a chapter 12 or chapter 13 plan may provide for payments to be made over three to five years, the discharge typically occurs about four years after the date of filing.
The bankruptcy is reported in the public records section of your credit report. Both the bankruptcy and the accounts included in the bankruptcy should indicate they are discharged once the bankruptcy has been completed. To verify this, the first step is to get a copy of your personal credit report.
A "discharge letter" is a term used to describe the order that the bankruptcy court mails out toward the end of the case. The order officially discharges (wipes out) qualifying debt, such as credit card and utility bill balances, medical debt, and personal loans.
A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts. In other words, the debtor is no longer legally required to pay any debts that are discharged.
Following a bankruptcy discharge, debt collectors and lenders can no longer attempt to collect the discharged debts. That means no more calls from collectors and no more letters in the mail, as you are no longer personally liable for the debt. A bankruptcy discharge doesn't necessarily apply to all of the debt you owe.
Closing a Chapter 7 Bankruptcy After DischargeA Chapter 7 case will remain open after the discharge if the Chapter 7 trustee appointed to the matter needs additional time to sell assets or if the case involves litigation.
For most filers, a Chapter 7 case will end when you receive your dischargethe order that forgives qualified debtabout four to six months after filing the bankruptcy paperwork. Although most cases close after that, your case might remain open longer if you have property that you can't protect (nonexempt assets).
