What types of debt can be discharged through bankruptcy?

In Virginia, debtors in bankruptcy may be able to discharge certain types of debt. Debt that can be discharged includes unsecured debt such as medical bills, credit card debt, and personal loans. However, not all debts are dischargeable. Secured debt such as car loans, mortgages, and student loans, are not eligible for discharge. Additionally, certain taxes, alimony, and child support may not be eligible for discharge. It is important to note that some federal student loans may be discharged, but they must meet certain criteria. Taxes typically can’t be discharged through bankruptcy, but taxes that are more than three years old may be eligible. Additionally, debts incurred through fraud or embezzlement can’t be discharged, and debts related to civil judgments can’t be discharged. Other exceptions to dischargeable debt include debts related to family support obligations, debts incurred through willful or malicious acts, and debts related to damage to someone else’s property. When considering a bankruptcy filing, it is important to discuss with a qualified attorney or financial advisor about which types of debt are eligible for discharge in Virginia. An attorney or financial advisor can help an individual understand which debts may be eligible for discharge, and how best to pursue a bankruptcy filing.

Related FAQs

How do I change my name after filing for bankruptcy?
Is it possible to have a bankruptcy case dismissed?
How does the bankruptcy court decide which creditors will get paid?
Are there any special provisions for filing for bankruptcy as a business?
Will bankruptcy discharge the entire amount of debt owed?
Are there restrictions on my ability to travel while filing for bankruptcy?
Can I get a loan after filing for bankruptcy?
What will happen to my creditors if I file for bankruptcy?
What is the meaning of a bankruptcy discharge?
What is the process for filing for bankruptcy?

What types of debt can be discharged through bankruptcy?

Related FAQs

Related Blog Posts