Bankruptcy

What Debts Are Dischargeable Bankruptcy

By
David F. Mills
on
February 10, 2019

Bankruptcy can help you discharge certain debts and get a fresh start. However, not all debts are dischargeable in bankruptcy. Here is a brief overview of debts that are and are not dischargeable in bankruptcy.

Bankruptcy can help you discharge certain debts and get a fresh start. However, not all debts are dischargeable in bankruptcy. Here is a brief overview of debts that are and are not dischargeable in bankruptcy

Dischargeable Debts In Bankruptcy

A bankruptcy discharge gets rid of most typical debts, including:

  • Credit card bills
  • Medical bills
  • Personal loans
  • Some taxes
  • Lawsuits
  • Business debt
  • Deficiency claims (debts left over after repossession or sale of a car, home, or other property)

Occasions also exist when bankruptcy will allow you to reduce the amount you owe on your cars and other personal property.

This is not a complete list. We can help identify those debts that will be extinguished by a bankruptcy discharge.

Non-Dischargeable Debts In Bankruptcy

These debts are referred to as non-dischargeable debts because you will continue to owe them after your bankruptcy case is over.

Some debts that will survive the bankruptcy include:

  • Most taxes
  • Most student loans
  • Child support and alimony
  • Debts arising from fraud or shortly before you file bankruptcy

This is not a complete list. We will help identify which debts may be forgiven, and those that will remain, based on your personal case.

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