Will bankruptcy get rid of a judgment?

If you find yourself drowning in debts and facing a lawsuit, you may be wondering if bankruptcy can provide you with relief from the burden of a judgment. Declaring bankruptcy can indeed have significant implications for outstanding judgments, but it is essential to understand the complexities involved. In this article, we will delve into the question, “Will bankruptcy get rid of a judgment?”, and provide you with related FAQs to broaden your understanding of the topic.

Will bankruptcy get rid of a judgment?

**Yes, filing for bankruptcy can potentially eliminate or discharge a judgment.**

Declaring bankruptcy has the potential to be a powerful tool when it comes to addressing outstanding judgments. However, it is important to note that not all judgments can be discharged through bankruptcy. There are two common types of bankruptcy individuals may consider: Chapter 7 and Chapter 13.

1. Can a Chapter 7 bankruptcy get rid of a judgment?

Yes, filing for Chapter 7 bankruptcy can potentially discharge a judgment. However, certain criteria must be met, including proving that the debt underlying the judgment is eligible for discharge.

2. Can a Chapter 13 bankruptcy get rid of a judgment?

A Chapter 13 bankruptcy doesn’t necessarily eliminate a judgment, but it provides the opportunity to pay off the judgment over an extended period under a court-approved repayment plan.

3. Can all types of judgments be discharged through bankruptcy?

No, certain types of judgments cannot be discharged through bankruptcy, such as judgments related to drunk driving incidents, certain taxes, student loans, and debts resulting from fraud, among others.

4. How long does it take for bankruptcy to eliminate a judgment?

Once your bankruptcy case is successfully closed, it generally takes a few months for the judgment to be discharged, though the timeline can vary depending on the specifics of your case.

5. Can bankruptcy remove liens placed against my property due to a judgment?

Yes, bankruptcy can potentially remove judgment liens from your property, especially if it is impairing your ability to receive the full benefits of your bankruptcy discharge.

6. Can a judgment creditor challenge the discharge of their debt through bankruptcy?

Yes, a judgment creditor can object to the discharge, but they must provide valid reasons to support their objections.

7. Can bankruptcy prevent wage garnishment resulting from a judgment?

Yes, once you file for bankruptcy, an automatic stay is put into effect, which prevents creditors from taking any collection actions, including wage garnishment.

8. Can bankruptcy erase judgments from my credit report?

Bankruptcy itself will be recorded on your credit report, but judgments discharged through bankruptcy should no longer appear.

9. Can a judgment be discharged if the debtor commits fraud?

No, judgments resulting from fraud committed by the debtor generally cannot be discharged through bankruptcy.

10. Can my bankruptcy case be reopened if a creditor pursues collection after a judgment was discharged?

In certain circumstances, you can reopen your bankruptcy case and ask the court to address the issue of discharged debts.

11. Can bankruptcy help if I have multiple judgments against me?

Filing for bankruptcy can potentially address multiple judgments simultaneously, providing comprehensive debt relief.

12. Will declaring bankruptcy protect me from future judgments?

While bankruptcy can provide temporary relief and help discharge existing judgments, it does not offer complete protection against future judgments.

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