Dischargeable Debts
Despite changes to the U.S. Bankruptcy Code in 2005, bankruptcy relief is available for most people struggling with unmanageable debt. Through a Chapter 7 bankruptcy, you may be able to eliminate all or most of your debts.
Debts that may be discharged through a Chapter 7 bankruptcy include:
- Credit card debts
- Medical bills
- Certain judgments
- Certain tax debts
- Most forms of consumer debt
Non-Dischargeable Debts
As a general rule, you may not discharge child support, school loans or certain tax debts. Please note that IRS tax debts that are sufficiently old may potentially be dischargeable in certain situations. Contact Sno-Isle Bankruptcy to learn more.
Chapter 7 vs. Chapter 13 Bankruptcy
Whereas a Chapter 7 bankruptcy discharges most forms of consumer debt, Chapter 13 bankruptcy is designed to allow clients additional time to repay their debts gradually. Even with a Chapter 13 bankruptcy, however, you may be able to discharge a portion of your debts. In a Chapter 13 bankruptcy, the court will consider your financial circumstances to determine what portion of your debts must be repaid. Visit the following pages to learn more:
Contact a Washington Bankruptcy Lawyer
To learn more about bankruptcy and dischargeable debts, contact Sno-Isle Bankruptcy in Everett, Washington. To schedule a free consultation, call 425-265-9400 or contact us by e-mail.
