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Can Your Bankruptcy Discharge Be Revoked?


Bankruptcy is often the best option to wipe out debt and start over financially, but that doesn’t negate the fact that the process can be time-consuming and take a toll emotionally. Borrowers who are going through the bankruptcy process understandably look forward to the day they receive a bankruptcy discharge. After all, a discharge generally means that you are no longer responsible for the debt you owed to your creditors. As good as it likely feels to have finally secured a fresh financial start, you should understand that this isn’t always the end of the journey and there are cases in which the discharge turns out to not be permanent. In some circumstances, the discharge is revoked – and the biggest benefits of bankruptcy along with it. But why would that happen?

Bankruptcy Revocation Circumstances

Generally speaking, the complaint seeking revocation of a bankruptcy discharge must be filed within one year after the discharge was granted and it must be pursued by an interested party. While the U.S. Bankruptcy Code doesn’t define the term “interested party”, years of experience as seasoned bankruptcy attorneys has taught us that this can include anyone from creditors to a trustee to even a former spouse. With all kinds of bankruptcy, circumstances for revocation may arise if it is proven that you got your discharge by fraud and that fraud was not known to the requesting party until after the discharge was granted. Hiding or purposely misidentifying assets and documents can also become a big problem with bankruptcy.

What Happens to My Debt if a Revocation of My Bankruptcy Discharge is Granted?

As you might have accurately guessed, the revocation of a bankruptcy discharge unfortunately means that an individual is once again liable for their debts and the bankruptcy court still has authority over the situation. In addition, any illegal activity that is uncovered can be accompanied by criminal charges that may come with everything from time behind bars to having to pay substantial fines. And don’t forget that that is in addition to paying whatever debt is reinstated.

Bottom Line: Honesty is the Best Policy 

Unfortunately, dishonesty when it comes to bankruptcy doesn’t just affect creditors. It instead has the potential to affect others, including the honest debtors whose bankruptcy petitions are then subjected to harsh and unfair scrutiny because of the bad behavior of others. Our purpose of sharing the foregoing information regarding bankruptcy revocation is not to raise alarm, but is instead a reminder of the importance of always being upfront throughout the entire bankruptcy process. The more honest you are, the better the chances of your bankruptcy being successful the first time around – and staying that way.

We Can Help You Proceed Efficiently and Accurately

Filing for bankruptcy can be difficult if you try to do it alone. There are many potential missteps, some of which carry severe consequences and can even leave you in the position of having your bankruptcy discharge revoked. Consulting with an experienced Florida bankruptcy attorney is crucial for obtaining the detailed guidance and advocacy that you can depend on. As the Plantation bankruptcy attorneys at Nowack & Olson, PLLC, we are here to discuss your unique situation and help you understand your bankruptcy options. Whether you are facing a possible revocation of a bankruptcy discharge or are just beginning the bankruptcy process, we encourage you to contact us today for a complimentary consultation.

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