Bankruptcy Discharge: What is it?

bankruptcy dischargeFiling for bankruptcy protection is a very serious legal step that should never be considered lightly. Issues such as credit ratings and a debt repayment schedule could last for several years following the fact. But, a successful bankruptcy petition could also result in a considerable amount of outstanding debt being discharged after all is said and done, as a bankruptcy discharge is the order issued following the final hearing that will include all debts that were not repayable. This can be a complicated legal task in many instances, and it always takes representation from an experienced Brooklyn bankruptcy attorney like the professionals at Ursulova Law Office.

What Can Be Discharged

In both a Chapter 7 and a Chapter 13 bankruptcy petition, the assets of the filing party will be evaluated for potential sale and a list of exempted items will be identified. Those filing must qualify for a petition by means testing, with those not qualifying for Chapter 13 being assessed for a Chapter 7 case. All clear title property is typically sold and used to repay creditors with the remaining debts being discharged as not being further collectable. In a Chapter 13, the same process is applied except that the filing party will submit a repayment schedule for a typical five-year period that will result in some debts being repaid in full with a potential for some unsecured debt being discharged just as in a Chapter 7.

Exempt Debts

It is important to understand that all personal debts are not subject to a bankruptcy protection petition discharge. Those items include but are not limited to:

  • Student loan debt
  • Court ordered fines and restitution
  • Child support and alimony
  • Personal injury debts
  • Debts not included in the petition

Contact a Brighton Beach Bankruptcy Lawyer

Although it is not necessary to retain an attorney for a bankruptcy proceeding, laws are complicated and it is always best to retain a professional like the legal representatives at Ursulova Law Office bankruptcy lawyer in Brighton Beach for optimum discharge results.

Ursulova Law offices, P.C.

Contact Ursulova Law Offices, P.C. to find out how our NY Bankruptcy Attorneys can help you today. Our offices are located in New York, Brighton Beach, Brooklyn and Garden City.


  • This field is for validation purposes and should be left unchanged.