Will bankruptcy discharge the entire amount of debt owed?

No, bankruptcy does not always discharge the entire amount of debt owed in Idaho. Depending on the type of bankruptcy chosen, some types of debt may remain after the bankruptcy filing. In Chapter 7 bankruptcy, which is a form of liquidation bankruptcy, certain types of debt may not be discharged, such as student loans, most taxes, support payments, and court fines. In a Chapter 13 bankruptcy, which is a form of reorganization, debtors make payments based on their ability to pay, but any remaining balance due on secured debt such as a house or car will need to be paid in full. In both Chapter 7 and Chapter 13 bankruptcies, any remaining unsecured debt may be discharged or reduced. Depending on the individual circumstances of the debtor, some debtors may not have all of their debt discharged. It is important to speak with an attorney to discuss which type of bankruptcy is the most appropriate for the situation and to determine what types of debt can be discharged.

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Will bankruptcy discharge the entire amount of debt owed?

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