Will bankruptcy discharge the entire amount of debt owed?

No, bankruptcy does not always discharge the entire amount of debt owed in West Virginia. Bankruptcy is a legal process in which a debtor can obtain a court order discharging some or all of their debts. While bankruptcy can provide a fresh start and the chance to eliminate certain debt, it is not a magic bullet. Depending on the type of bankruptcy filing, some debts may still need to be paid in full. In West Virginia, debtors can file for either Chapter 7 or Chapter 13 bankruptcy. Chapter 7 bankruptcy also known as “liquidation” bankruptcy, may discharge the debtor’s liability of unsecured debt such as credit card debt, medical bills, and personal loans. However, in some cases, it may not discharge non-dischargeable debts including child support and spousal support arrearage and student loans. In contrast, Chapter 13 bankruptcy, also known as “wage-earner” bankruptcy, does not discharge a debtor’s debt entirely. Rather, the debtor can propose a plan for paying back all or part of their debt over a 3 to 5-year period. After the repayment plan is completed, the remaining debt may be discharged. In conclusion, bankruptcy does not always discharge the entire amount of debt owed in West Virginia. Whether the entire debt is discharged or not depends on the type of bankruptcy filing and the type of debt that is owed.

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Will bankruptcy discharge the entire amount of debt owed?

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