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Death after Filing Bankruptcy in Acworth or Kennesaw

Home » Videos » Death after Filing Bankruptcy in Acworth or Kennesaw

Well, let’s talk today a little bit about what happens in the event that you filed your bankruptcy case but you’ve subsequently passed away before the bankruptcy case has actually been closed. First of all, if you’ve been able to attend your meeting of creditors hearing and then you subsequently pass away, what normally happens is that you should still receive your Chapter 7 discharge if it’s a Chapter 7 case.
In the event that you filed what’s known as a Chapter 13 case, the considerations are a little bit different. In fact, a Chapter 13 case, as you probably know, is just a repayment bankruptcy which can last anywhere from three to five years. If you’ve passed away during that time, your beneficiaries are going to have a few options. One option will, of course, ask the court to just dismiss the case and if the case is dismissed that means that any creditors could still come against and make claims against any part of your life insurance proceeds if there are any.
The other option, of course, is for your heirs to make the decision to go ahead and continue making the Chapter 13 payments until your Chapter 13 case has been concluded. A final option might be for your heirs to decide to ask that the case actually be just converted to a Chapter 7 case and then have an administrator appointed to be able to attend your meeting of creditors hearing.
Well, this brings me to a final point as far as health and that type of a thing and considerations of filing a bankruptcy case. If you’re in poor health, you may want to give strong consideration to actually filing the bankruptcy case now while you can. In the event that you have life insurance proceeds, let’s say, for example, you’ve got $100,000 of life insurance proceeds and you’ve got $50,000 worth of debt. Well, if you pass away, what will happen is this: if you’ve not filed the bankruptcy case and gotten that discharge, then any creditors, any credit card companies, or any other types of creditors that you have can go ahead and file claims against those life insurance proceeds.
What that means is that the amount due to your beneficiaries or what they’re going to be able to receive would be significantly reduced. On the other hand, if you just simply file your bankruptcy case, get rid of all of the debt, then that $100,000 of life insurance goes directly to your beneficiaries or whoever you’ve designated. Hopefully, you don’t find yourself in that situation but if you do, please call my office at 770-792-1000. Again, I’m Roger Ghai.

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      Ghai Law Firm
      Call for a free consultation:
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      LAW OFFICES OF ROGER GHAI

      1301 SHILOH RD NW STE 430

      KENNESAW GA   30144

      Mon-Fri: 9AM - 6PM

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      • ABOUT
        • Testimonials
        • Join Us
      • Practice Areas
        • Personal Injury
          • Pedestrian Accident
          • Car Accidents
            • Speeding Accident
            • Drinking and Driving Accidents
            • Left Hand Turn Accident
            • Rear-End Collision
            • Reckless Driving Accident
            • Uber Accidents
            • Hit-and-Run Accidents
            • Texting and Driving Accident
              • Texting and Driving Under 18
          • Truck Accident
            • Lane Usage Accident
            • Traumatic Brain Injury
          • Product Liability
            • Defective Drugs
            • Defective Medical Device
          • Premises Liability
            • Slip and Fall Accidents
          • Wrongful Death
          • Dog Bite
        • Bankruptcy
          • Debt Relief
          • Credit Card Debt
          • Chapter 13 Bankruptcy
          • Chapter 7 Bankruptcy
          • Foreclosure Bankruptcy
          • Free Legal Case Review
          • Medical Bills Bankruptcy
          • Rebuild Your Credit
          • Wage Garnishments
      • Areas We Serve
        • Kennesaw Personal Injury Lawyer
          • Kennesaw Bankruptcy Lawyer
        • Acworth Personal Injury Lawyer
          • Acworth Bankruptcy Lawyer
        • Marietta Personal Injury Lawyer
          • Marietta Bankruptcy Lawyer
        • Smyrna Personal Injury Lawyer
      • FAQs
      • Blog
      • Videos
      • Contact