In order to retain a specific property, a debtor may establish a payment plan with a specific creditor, also known as reaffirming a debt. In these reaffirmations, debtors may retain their vehicles in exchange for maintaining regular payments and not discharging the debt. Although this implies that a debtor will remain in debt even after filing for bankruptcy, it can be beneficial when a vehicle would otherwise be repossessed.
Although debtors can control the reaffirmation process with the court's approval, the law may choose not to discharge a debt if illegality or unethical practices are suspected on the part of the debtor. There are several reasons why a court may refuse to discharge a debt, requiring the debtor to continue making payments or face additional penalties.
Perhaps one of the most apparent reasons why a debt discharge can be denied is proof of debtor fraud. If a creditor or court determines that a debtor intentionally failed to maintain adequate financial records, failed to account for sudden financial losses, or lied about their finances, a debt discharge may be denied immediately. Similarly, failure to comply with court orders may result in the denial of a debt discharge.
In Chapter 7 bankruptcy, a law-abiding debtor will typically have many of his or her debts discharged. However, exceptions to this rule can be problematic and perplexing. Contact a bankruptcy attorney for additional information on how bankruptcy can eliminate these debts.""
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