In a bankruptcy, what does haviong a case “retained” mean?
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In a bankruptcy, what does haviong a case “retained” mean?
A customer filed bankruptcy and it was discharged 2 months ago. Now his lawyer is saying that his case is retained and will be filed in the next 30 days.
Asked on April 3, 2012 under Bankruptcy Law, South Carolina
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I think that you mean that the case is "discharged" as opposed "retained". If your customer got a bankruptcy discharge with respect to the bankruptcy that you are writing about, it means in all likelihood that that your claim for money owed has been eliminated by the court as part of the bankruptcy process where you essentially have to write off the debt.
The filing in the next 30 days essentially means that the debts of the customer will have a formal court ordered discharge filed by the court soon.
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