Will bankruptcy discharge the entire amount of debt owed?

In California, bankruptcy law can be a complicated topic. The main question is whether bankruptcy will discharge the entire amount of debt owed. The answer depends on the type of bankruptcy filing. The most common type of bankruptcy in California is Chapter 7 bankruptcy. Under Chapter 7 bankruptcy, some debts may be completely discharged. This means that the debtor is no longer responsible for paying those debts. Examples of debts that may be discharged in a Chapter 7 bankruptcy include credit card bills, medical bills, and personal loans. However, not all debts can be discharged in a Chapter 7 bankruptcy. Examples of debts that may not be discharged in a Chapter 7 bankruptcy include student loans, alimony, and child support payments. Some debts may only be partially discharged. The amount of debt that a debtor can discharge in a Chapter 7 bankruptcy is determined by their income and other factors. The other type of bankruptcy commonly filed in California is Chapter 13 bankruptcy. Under Chapter 13 bankruptcy, debtors can sometimes negotiate a payment plan with their creditors to pay off their debt over time. In this situation, the debtor may be able to pay off only a portion of the debt or even receive a discharge of the remaining balance. In conclusion, it depends on the type of bankruptcy being filed and the type of debt being discharged in California. Generally speaking, Chapter 7 bankruptcy may discharge some debt, while Chapter 13 bankruptcy may provide a payment plan or a complete discharge of debt.

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Will bankruptcy discharge the entire amount of debt owed?

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