In this section

What Debts Can I Discharge in Bankruptcy?

"Debt discharge" is a fancy way of saying "debt elimination."

By filing for Chapter 7 bankruptcy, you are taking a step toward eliminating almost any debt you have, including:

  • Credit card debt
  • Signature loans and finance company debts
  • Home foreclosure debts
  • Medical debts
  • Some IRS tax debts (older than three years)
  • Debts that have been reduced to a judgment by virtue of a lawsuit
  • Lease and contract debts
  • Garnishments
  • Cash advance and pay day loans
  • Bank overdraft fees

Not everyone qualifies to discharge debts in bankruptcy. However, if you cannot pay off your unsecured debts in three to five years, chances are good that you are a candidate for a Chapter 7 bankruptcy action that can legally eliminate those debts forever in as little as three months.

Get Answers From Your Cleveland Tax Debt Relief Lawyer

For more information, contact me, bankruptcy attorney April Perry Randle, in Cleveland, Tennessee. Together, we can discuss your financial situation and a debt relief solution that will work best for you. For a free consultation, call me today at 423-464-6908 or 423-464-6908 toll free.

Bankruptcy exemptions and realities: Bankruptcy will not leave you homeless and penniless. Find out why by reading my " Can I Keep My House And Property?" page.

Dispelling bankruptcy myths: Discussions about bankruptcy are often mired in hearsay and misinformation. Learn the truth about bankruptcy on my " Bankruptcy Myths" page. Bring your own questions to our first conversation in person.

Not All Debts Are Dischargeable

Certain debts, including income tax, land tax, student loan debts, child support payments and spousal support payments are nondischargeable in Chapter 7. This means that even if you qualify for Chapter 7 bankruptcy, your financial obligation toward these debts will not go away.

If your nondischargeable debts are significant, you may wish to consider another bankruptcy option: Chapter 13. Under this bankruptcy process, your debts are repaid under a payment that you can afford. The good news about Chapter 13 bankruptcy is that it enables you to pay back the money you owe on a schedule that works for you, not one that only suits the needs of your creditors, ex-spouse or others with claims against your income and assets.

Free Consultation With A Chattanooga Bankruptcy Discharge Attorney

Bankruptcy laws are complicated. By hiring an experienced southeast Tennessee bankruptcy attorney, you can discharge most of your debts and concentrate on creating a bright financial future.

For more information, contact me online or at 423-464-6908 or 423-464-6908 toll free.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.