What debts are eligible to be discharged in Chapter 11?

In South Carolina, Chapter 11 Bankruptcy Law enables individuals and businesses to restructure their financial obligations. This type of bankruptcy protection allows debtors to repay a portion of their debts and discharge the rest. Generally, the debts that can be discharged in Chapter 11 bankruptcy include credit card debts, medical bills, personal loans, and any judgments resulting from civil lawsuits. Additionally, Chapter 11 Bankruptcy Law may also discharge any debt that has been guaranteed by an individual or business, such as a car loan or mortgage. This includes any obligations related to the loan, such as interest, late fees, and collection costs. Furthermore, any debt resulting from repossession of collateral, such as a vehicle or home, may also be discharged through Chapter 11 bankruptcy. Finally, Chapter 11 Bankruptcy Law may also discharge any other unsecured debts that have not been discharged through any other type of bankruptcy. This may include unpaid taxes, utility bills, rent, or other miscellaneous debt. Additionally, student loans may be discharged in certain circumstances. It is important to note, however, that there are certain types of debts that are not eligible to be discharged through any type of bankruptcy, including alimony, child support, and certain court fines or penalties.

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What debts are eligible to be discharged in Chapter 11?

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