What debts can I discharge in bankruptcy?

When it comes to bankruptcy in Idaho, the debts that you can discharge will depend upon the type of bankruptcy you file. Generally, the types of bankruptcy available in Idaho are Chapter 7, Chapter 13, and Chapter 11. Under Chapter 7 bankruptcy, you can discharge most unsecured debt, such as credit card debt, medical bills, personal loans, and some types of taxes. Depending on the type of debt, you may even be able to discharge a second mortgage or loans against your property. It is important to note that federal student loans cannot be discharged in Chapter 7 bankruptcy. In Chapter 13 bankruptcy, you can generally discharge similar debts as in Chapter 7 bankruptcy. While the rest of the debt is not discharged immediately, you can make a payment plan to pay off the debt in 3-5 years. Chapter 11 bankruptcy is generally used by businesses rather than individuals. In Chapter 11, you can reorganize your debt to make it easier to pay off. The agreement will likely include reducing the interest rate or the amount of debt. It is always best to speak with a qualified attorney to discuss which type of bankruptcy is the best for your situation, and to ensure that you understand the potential consequences before filing.

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What debts can I discharge in bankruptcy?

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