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Many times, because of court ordered payment plans and consequences to credit histories, what happens after Chapter 7 bankruptcy depends on what debt is discharged in the bankruptcy. What can NOT be discharged under Chapter 7 bankruptcy? Most unsecured debt, like credit card debt, CAN be discharged in bankruptcy. EXCEPTIONS include:


Congratulations! You have received your bankruptcy discharge at the end of your Chapter 7 or Chapter 13 case. You are anxious to get a fresh start, but what should you do next? . . . → Read More: The Bankruptcy Discharge And Beyond: What To Do After Your Bankruptcy


In a Chapter 7 bankruptcy, it’s issued 60 days after the first 341 meeting of creditors date. (The order could be delayed—or even prevented—by a creditor who successfully opposes the discharge.) In a Chapter 13 case, the court orders the discharge after plan completion. The discharge releases the debtor from qualifying debt liability.


Once you are officially out of bankruptcy, which is usually about 6 months after you initially filed Chapter 7 or right after you finish your Chapter 13 repayment plan, you can resume getting credit. However, you should be careful what new obligations you take on. Once your bankruptcy case is discharged, you have no legal protection against new ...


If you fail to cooperate or the trustee discovers that you obtained your discharge by fraud, the trustee has one year after entry of the discharge to ask the court to revoke the discharge. The trustee can ask the court to revoke your discharge even if it has already closed the case. Re-Opening a Closed Chapter 7 Case


The debtor then receive his discharge 60 days after the meeting with the bankruptcy trustee. What happens in a chapter 7 asset case . Occasionally, a chapter 7 debtor will file a case in which there are non-exempt property.


In most cases, Chapter 7 bankruptcy filers automatically receive a discharge at the end of their case. In Chapter 7, the court usually grants the discharge 60 days after the 341(a) Meeting of Creditors. Typically, this means you will obtain a discharge about four months after filing your Chapter 7 petition. Which Debts Are Dischargeable?


Debts that can be discharged and the amount of the discharge all depend on whether you file Chapter 7 or Chapter 13 bankruptcy. In Chapter 7 bankruptcy, the trustee divides your nonexempt assets among your creditors, and any remaining debt will be discharged. In Chapter 13 bankruptcy, you enter a repayment plan that repays all or most of your debt.


As in chapter 7, however, discharge may not occur in chapter 13 if the debtor fails to complete a required course on personal financial management. A debtor is also ineligible for a discharge in chapter 13 if he or she received a prior discharge in another case commenced within time frames discussed the next paragraph.


When you file for Chapter 7 bankruptcy, you have to attend a mandatory hearing called the meeting of creditors (also called the 341 hearing). But simply attending the 341 hearing does not mean that your bankruptcy case is over. Read on to learn more about what happens after your Chapter 7 bankruptcy meeting of creditors.