What debts can I discharge in bankruptcy?

In Oklahoma, bankruptcy law allows individuals to discharge certain debts. This means that the debtor is no longer responsible for the debt and they will no longer receive collection calls or other attempts to collect the debt. Generally, any debt stemming from contract law can be discharged in bankruptcy. This includes credit card debt, medical bills, utility bills, personal loans, and any other debt that is not secured by a lien or other collateral. It is important to note that certain types of debt cannot be discharged through bankruptcy. These include tax debts, student loan debt, alimony/child support, and any debt incurred as a result of fraud. Additionally, any debt incurred after the filing of a bankruptcy petition cannot be discharged. In Oklahoma, there are two types of bankruptcy filings that individuals can make. These are Chapter 7 and Chapter 13 bankruptcy. Depending on the type of filing, different debts can be discharged. Chapter 7 provides the most broad discharge of debt, including unsecured debt such as credit card debt, and medical bills. However, it is important to note that certain assets may be liquidated to pay creditors. Additionally, Chapter 13 bankruptcy can be used to restructure debt, allowing debtors to restructure debt repayments and have a more manageable payment plan. However, it is important to note that all debt must still be paid back, albeit over a longer period of time.

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What debts can I discharge in bankruptcy?

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