The process of filing for bankruptcy can be a difficult process if the individual has trouble gathering all of the information regarding his or her assets, or if he or she fails to disclose all of the specifics of their financial situation. In certain cases, the court may discover items that were left off of the application or may have reason to suspect intentional tampering with the process and may decide to deny the application or deny the discharge of debts.
Denial of discharge is one of the worst outcomes for individuals facing serious financial difficulties. For people who are struggling to pay their bills, support their families, and keep their homes and automobiles, bankruptcy may be the best method of correcting a bad monetary situation. If their application is denied for any reason, the person may not be able to keep important assets and other items from his or her creditors.
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It is important for individuals to understand the importance of completing bankruptcy applications in the most thorough and truthful manner possible. Some people do not understand how bankruptcy works and may want to make their financial situation look different on paper than it is in real life. There have been instances where individuals try to conceal property or other assets they may have, or attempt to transfer assets from their name to another person to avoid having to list them on the bankruptcy application.
If the court discovers such actions during a bankruptcy proceeding, the bankruptcy claim may be denied and discharged debts may again become due. Typically, when an individual files for bankruptcy, the court will issue an order of "automatic stay" to the person's creditors, which notifies them of the person's bankruptcy claim and requires them to stop making harassing phone calls and sending collection letters.
If a person faces a denial of discharge, collectors will again be able to pursue payment of the debt. In addition, the applicant may not be able to file for bankruptcy again for a certain length of time. In some states, persons who have had a bankruptcy application denied by the court may have to wait for at least 180 days before attempting to file another claim.
To make sure your bankruptcy claim is filed correctly, you may want to consider consulting an experienced bankruptcy attorney. For more information on bankruptcy and denial of discharge, visit the website of the Austin bankruptcy lawyers of Slater, Kennon & Jameson, LLP.
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