What debts can I discharge in bankruptcy?

In Wisconsin, there are certain debts that can be discharged in bankruptcy. Generally, any unsecured debts, such as medical bills, credit card bills, and personal loans, can be discharged. In addition, some secured debt, such as car loans and mortgage loans, may also be dischargeable in certain circumstances. Also, certain tax debts may be discharged in bankruptcy in Wisconsin. These include federal income taxes that are over three years old, state income taxes that are over four years old, and property taxes that are over one year old. However, if the bankruptcy court determines that you could have paid the debt if you had not used your money for something else, or if you committed fraud or attempted to defraud the government, the debt may not be discharged. Finally, other types of debt may be dischargeable in bankruptcy in Wisconsin. These include court judgments, civil fines, and debts for intentional torts, such as motor vehicle accidents and injuries caused by a defective product. Overall, it is important to understand the specific laws of Wisconsin regarding the dischargeability of debts in bankruptcy, as well as the types of debts that may be eligible for discharge. A qualified attorney can help you determine if the debts you owe can be discharged in bankruptcy.

Related FAQs

Can I discharge student loan debt through bankruptcy?
Will I lose my property if I file for bankruptcy?
How do I know if I am eligible for Chapter 7 or Chapter 13 bankruptcy?
What are the consequences of filing for bankruptcy?
What are the consequences of not filing for bankruptcy?
How does filing for bankruptcy affect my retirement benefits?
What is the bankruptcy automatic stay?
What is the process for filing for bankruptcy?
What are some of the potential pitfalls to filing for bankruptcy?
What debts are dischargeable in bankruptcy?

Related Blog Posts

What is Bankruptcy Law? - July 31, 2023
What Are the Most Popular Types of Bankruptcy? - August 7, 2023
How to Choose the Right Bankruptcy Attorney for Your Case - August 14, 2023
Understand the Consequences of Not Filing for Bankruptcy - August 21, 2023
How to Avoid Bankruptcy With Financial Self-Management - August 28, 2023