Understanding the Bankruptcy Discharge

Carrying debt has become an integral part of modern American life as people have scrambled to keep up with an ever-escalating cost of living and a stagnating wage. Additionally, gaining some employment and housing opportunities require that an applicant establish a demonstrated record of responsible credit management and payment of financial obligations.

Unfortunately, a medical emergency, job loss, or other life event that bears a significant impact on a debtor’s financial situation can interfere with his or her ability to make timely payments. When an individual’s debts become overwhelming it can have an adverse effect on all facets of life.

If you find yourself in the position of being unable to keep up with the arrangements that you have agreed upon with your creditors, then it may be time to consider filing for bankruptcy protection. Contact the Arizona bankruptcy lawyers of the Harmon Law Office, L.L.C. at 480-829-0494 to learn more about how bankruptcy might benefit your current situation

The Discharge of Debts

The primary aim of a bankruptcy filing is to allow the discharge of one’s debts through the mechanisms afforded by the various chapters of the United States Bankruptcy Code. Discharge is a technical term, the meaning of which is not immediately obvious to persons who are unfamiliar with bankruptcy law and the process of filing for bankruptcy protection. Essentially, the bankruptcy discharge is understood as follows:

• A discharge involves a court order that creditors cease and desist with collection efforts
• The discharge may be modified or withdrawn under certain circumstances such as fraudulent filings or debtor misconduct
• Only some forms of debt are dischargeable
• The discharge requires the successful completion of all terms the bankruptcy

Contact Us

Get a fresh start and escape the lingering cloud of financial distress overhead. Contact the Arizona bankruptcy lawyers of the Harmon Law Office, L.L.C. today at 480-829-0494.