Will bankruptcy discharge the entire amount of debt owed?

No, bankruptcy does not automatically discharge the entire amount of debt owed in Kansas. Bankruptcy can provide some relief from debt, but the type of debt and the amount of debt that can be discharged under bankruptcy law varies depending on the type of bankruptcy filed. In Chapter 7 bankruptcy, most unsecured debt, such as medical bills, credit cards, and personal loans can be discharged, but not all. Secured debt, such as car payments, may only be discharged if the property is surrendered or if the debt is reorganized into an affordable payments plan. In Chapter 13 bankruptcy, only a portion of the debt may be discharged, and you must repay the rest of the debt over a three to five-year repayment plan. It is important to note that certain types of debt cannot be discharged at all, such as student loans, child support, and alimony. Additionally, debts incurred illegally, such as fraud, or in bad faith, such as gambling or tax debts, may not be discharged either. This means that filing for bankruptcy can provide some relief from debt, but it does not automatically discharge the entire amount of debt owed. Therefore, it is important to speak with a certified bankruptcy attorney to determine the specific types of debt that can be discharged in Kansas and the amount of debt that can be discharged under these laws.

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Will bankruptcy discharge the entire amount of debt owed?

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