What debts can I discharge in bankruptcy?

If you are considering filing for bankruptcy in the state of Florida, there are certain debts that can be discharged in the process. The types of debt you can discharge in a bankruptcy depend on the type of bankruptcy you file. Chapter 7 bankruptcy is often referred to as a “fresh start” bankruptcy because it allows you to discharge certain types of unsecured debt. These debts may include credit card debt, medical debt, some personal loans, and certain tax debts. Chapter 13 bankruptcy, also known as a “wage earner’s plan,” allows you to keep your property while you repay part or all of your debts over a period of three to five years. In a Chapter 13 bankruptcy, you may still be able to discharge certain debts, such as credit card debt, medical debt, student loans, and certain tax debts. In addition to the unsecured debts, some secured debts may also be discharged in a bankruptcy. These may include car loans, mortgage debt, and liens placed on your property. It’s important to note that not all debts can be discharged in Bankruptcy. These include student loans, alimony, child support, fines, criminal restitution, certain taxes, and debt caused by fraud. It’s imperative that you speak with a qualified bankruptcy attorney to understand which debts you can and cannot discharge in bankruptcy. A professional can help you determine the best course of action for your specific situation.

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What debts can I discharge in bankruptcy?

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