What debts can be discharged in Chapter 7 Bankruptcy?

In Virginia, filing for Chapter 7 Bankruptcy can give individuals a chance to start fresh by discharging certain debts. In Chapter 7 Bankruptcy, debtors are able to discharge most unsecured debts, such as credit card debts, medical bills, service contracts, and other unsecured loans. This type of bankruptcy does not discharge secured debts such as mortgages, car loans, and other loans which are secured by some form of collateral. Additionally, Chapter 7 Bankruptcy does not discharge certain types of debts, such as alimony, child support, student loans, certain taxes, and debts incurred through fraud or bad checks. In Chapter 7 Bankruptcy, debtors are also able to discharge certain types of personal property debts. In some cases, this includes debts for automobiles, furniture, appliances, and jewelry. However, there are also certain types of personal property that cannot be discharged in Chapter 7 Bankruptcy, such as any collateralized personal property that was acquired within a certain time frame prior to filing. Altogether, Chapter 7 Bankruptcy can be a great way for individuals to get a fresh start and discharge certain types of debts. If you are considering filing for Chapter 7 Bankruptcy in Virginia, it is important to contact a qualified bankruptcy attorney to ensure that all of your debts can be discharged and to make sure that you meet all of the qualifications necessary to do so.

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What debts can be discharged in Chapter 7 Bankruptcy?

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