A common question asked by those considering the possibility of a Chapter 7 bankruptcy filing is whether or not the bankruptcy filing can be denied. It is a natural and important question, as confidence in the outcome of your bankruptcy is of paramount concern when you are evaluating whether to pursue the process. Because of this, it is also common to wonder what makes a Chapter 7 bankruptcy successful, and the parameters under which a bankruptcy filing will ultimately leads to a discharge.
Firstly, it should be noted that the overwhelming majority of Chapter 7 bankruptcy filings are successful and result in the filer receiving their discharge as anticipated. One of the main reasons for this is that the discharge occurs automatically, unless an interested party successfully objects or motions for the discharge to be denied. These objections cannot be arbitrary, and are only granted in situations where some element of the bankruptcy filing does not comply with the bankruptcy code. Thus, the determination of whether a discharge will take place is not subjective or arbitrary, and it will occur automatically unless there is a highly specific and compelling reason for it not to.
The second element of this question concerns what the parameters of a successful Chapter 7 bankruptcy involve – essentially, what must be done to set the bankruptcy up for success? The answer is simple: for your bankruptcy to be successful, the information contained within it must be truthful and accurate, and the requirements laid out for the filing under the bankruptcy code must be complied with. If both of these things occur, then your bankruptcy will be successful and you will receive your discharge!
In working with your attorney as you navigate the bankruptcy process, they will assist you with identifying and completing the tasks required for Chapter 7 bankruptcy, including preparing your petition and schedules, assisting you with your 341 hearing, advising you on exemptions and facilitating the submission of documents to the court.
CALL NOW FOR A FREE STRATEGY SESSION FROM AN MN BANKRUPTCY LAWYER AT LIFEBACK LAW FIRM
Our highly experienced attorneys are experts at laying out the roadmap towards a successful Chapter 7 bankruptcy, and you can rest easy in the knowledge that as long as you follow that path faithfully, it will invariably lead to successfully receiving your bankruptcy discharge. So, when the time is right, or when you are ready, please don’t hesitate to reach out to Minnesota’s most kind and helpful bankruptcy law firm by going now to www.lifebacklaw.com.
