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Debts which are retained in a Chapter 7 case are normally retained in one of two ways: (1) the debtor simply keeps paying the debt, keeps the collateral (such as a house or a car) and the creditor keeps accepting the money without any additional documents being signed by the debtor or creditor, or (2) the debtor formally "reaffirms" the debt by signing a "reaffirmation agreement," also signed by the creditor, which is filed with the Court. A reaffirmation agreement puts the debtor back on the hook for the debt since it waives the debtor's discharge on the debt. Debts which are reaffirmed during a Chapter 7 case can be "rescinded" (i.e. canceled) by the debtor providing notice to the creditor that they are rescinding the reaffirmation agreement PRIOR TO to the Discharge date or within 60 days after the reaffirmation agreement is filed with the Court, whichever is later. It is best to ensure that the notice to the creditor is in writing, and is preferably sent to the creditor by certified mail, return receipt requested, so the debtor can prove that the creditor received notice of the cancelation prior to the deadline.

If one keeps a house or other debt in bankruptcy and then decides they don't want it, if the debt was not reaffirmed then the person can probably give the collateral back to the bank and walk away (see your lawyer). If one formally reaffirmed the debt, then one can normally rescind the agreement if the Discharge has not yet been granted or if it has not been 60 days from when the reaffirmation agreement was filed with the Court (again, see your lawyer). But, if the debt was formally reaffirmed and the deadline to rescind has expired, then the debtor will no longer be protected by the bankruptcy and will therefore probably still be liable on the debt (see your lawyer).

Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.

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โˆ™ 2015-07-15 19:15:06
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Q: If a Chapter 7 has been discharged can anything be added to the original bankruptcy?
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Related questions

If you filed chapter 13 bankruptcy and it was discharged can you file chapter 7 bankruptcy now?


Can you amend a chapter 7 bankruptcy after its been discharged?


When you file chapter 7 bankruptcy and have a private student loan is it discharged with everything else?

Unfortunately no. Both private and federal student loans can not be discharged in Chapter 7 bankruptcy.

Can payday loans be discharged by filing a chapter 13 bankruptcy?

Yes, they can be discharged. A chapter 13 may not be the best way to go, however. You should consider a chapter 7, if you qualify. Consult a local bankruptcy lawyer.

Can you file chapter 7 again if you filed bankruptcy in 2001?

my chapter 7 bankruptcy discharged Jan 2002 when can i apply again

Is a car loan discharged under chapter 7 bankruptcy?

Whether your car loan is discharged by a bankruptcy or not will depend on your state and the equity in your car. Whether the loan will be discharged or not is called an "exemption".

Are all debts automatically discharge in chapter 7 bankruptcy for a bankruptcy that occurred in 1988?

If a debt was listed on a Bankruptcy that you filed and the Bankruptcy went through then that debt is permanently discharged with a Chapter 7.

Can you be sued after your chapter 13 is successfully discharged?

Not by creditors who agreed to participate in the chapter 13 bankruptcy.

If you filed a chapter 7 bankruptcy in mi and it is discharged how long do you have if you need to file an amendment?

If you filed a Chapter 7 bankruptcy in MI and it is discharged, you can amend whatever document you want at any time. It does not matter whether it is during the process of bankruptcy or after the discharge.

When can you file a chapter 7 bankruptcy if you had a chapter 7 discharged in December 2001?

The bankruptcy petitioner can file another chapter 7 8 years after the date of filing of a previous chapter 7.

How should an obligation that is discharged in a Chapter 7 Bankruptcy be reflected in a subsequent credit report?

The debt should be identified as being in bankruptcy or discharged in bankruptcy. It will remain on the list for 7 years. The bankruptcy will remain on the report for 10 years.

If you had a discharged chapter 7 bankruptcy 8 years ago can you convert your chapter 13 now?


Is a debt discharged if it was not listed on the schedule F on a no asset chapter 7 bankruptcy?


Can you file chapter 13 on child support?

No. Child support is not discharged in bankruptcy.

Can you get a rental lease for an apartment after the chapter 7 is discharged?

Sure. Just find an apartment that will allow a tenant with a discharged bankruptcy.

How soon after a chapter 7 bankruptcy can you buy a car?

The day you are discharged you can buy a car. You need to take proof that you are discharged.

Chapter 7 discharged bankrupcya cousin is now trying to take you to court for money that you borrowed a year before you filed for bankruptcy are you protected under the bankruptcy?

If you included it in your bankruptcy, you're protected by the discharge. If you didn't and you're already discharged from Chapter 7, you may not be protected. I suggest you discuss this with your bankruptcy lawyer.

What does it mean for a bankruptcy to be discharged?

You may be referring to the discharge of debts in bankruptcy. Not all debts can be discharged. Most discharged debts are partially discharged in Chapter 11 and Chapter 13 actions. Debts or the portions thereof that are discharged no longer exist at law and creditors no longer can attempt collection. It is a "fresh start". You attorney can advise you as to which debts are likely to be discharged, which ones reorganized, and which debts will likely not be discharged.

After a Chapter 7 bankruptcy can a previous lender attach a lien to a new property purchased?

Not if the debt was officially discharged in the bankruptcy.

Can a medicail bill for a veterains hospitail be charged off in chapter 7 bankruptcy?

Medical bills can be discharged through a bankruptcy.

How long does it take after a bankruptcy is discharged to show on your credit report?

The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.

What are tax implications of debt discharged in a chapter THIRTEEN bankruptcy?

Unless it is a tax debt, none. Discharged debts are not income to the debtor.

Can an unsecured promissory note be discharged in California under Chapter 7 Bankruptcy?


Will you get a 1099 for debt discharged in Chap 7 bankruptcy?

No. Unlike some non-bankruptcy situations, debt wiped out in bankruptcy (any chapter) is NOT income to the debtor.

If you filed chapter 7 bankruptcy in 2003 when is it discharged and when will it come off your credit records?

The bankruptcy is not discharged. Your debt obligation is discharged. The discharge notice usually is mailed to you about 6 weeks after the 341 meeting. The filing of bankruptcy will stay on your credit report for 10 years from the date of filing.