Are unsecured debts discharged in Chapter 7 Bankruptcy?

In North Carolina, unsecured debts are generally considered dischargeable in a Chapter 7 Bankruptcy. This means that an individual filing for Chapter 7 Bankruptcy in North Carolina will no longer be held accountable for outstanding debts that are classified as unsecured. Unsecured debt in this case is generally considered to be credit card debt, medical bills, and other unsecured loans. However, there are some exceptions to the rule. For example, student loans, alimony, and child support payments are often not dischargeable through Chapter 7 Bankruptcy. Additionally, some debts, such as debts owed to governmental agencies, are not dischargeable through Chapter 7 Bankruptcy either. Ultimately, Chapter 7 Bankruptcy can be a very powerful tool in helping an individual in North Carolina pay off debts. However, it is important to understand which debts will and will not be discharged through the bankruptcy in order to avoid any surprises down the road. For more information regarding Chapter 7 Bankruptcy Law in North Carolina, it is highly recommended that an individual consult a lawyer or financial advisor who is knowledgeable in the area.

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Are unsecured debts discharged in Chapter 7 Bankruptcy?

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