What Debts Are Dischargeable 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.
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.