What happens if a debt is discharged in bankruptcy?

In both cases, the bankruptcy court can discharge certain debts, but not all types of debt. Once a debt has been discharged, the creditor can no longer take action against the debtor, such as attempting to collect the debt or seizing any collateral.

What debts are dischargeable in a chapter 13 bankruptcy?

Debts dischargeable in a chapter 13, but not in chapter 7, include debts for willful and malicious injury to property, debts incurred to pay non-dischargeable tax obligations, and debts arising from property settlements in divorce or separation proceedings.

When can a debtor be discharged under Chapter 11?

In individual chapter 11 cases, and in cases under chapter 12 (adjustment of debts of a family farmer or fisherman) and 13 (adjustment of debts of an individual with regular income), the court generally grants the discharge as soon as practicable after the debtor completes all payments under the plan.

Is the Digital Currency Group (DCG) still in danger?

DCG Bankruptcy News: With the Digital Currency Group (DCG) experiencing huge liquidation in the last 24 hours, speculation is rife about the stability of the platform. The crypto market is still not out of danger from the FTX related contagion.