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What Types of Debts Can Bankruptcy Get Rid Of?
Debts You Can Get Rid Of
- credit card charges (including overdue and late fees)
- collection agency accounts
- medical bills
- personal loans from friends, family, and employers
- money owed under lease agreements (includes past due rent)
- utility bills (past due amounts only)
- dishonored checks (unless based on fraud)
- student loans (only in a few rare circumstances)
- repossession deficiency balances
- auto accident claims (except those involving drunk driving)
- business debts
- attorney fees (except child support and alimony awards)
- civil court judgments (unless based on fraud)
- tax penalties and unpaid taxes past a certain number of years
- revolving charge accounts (except extended payment charges)
- social security overpayments, and veterans assistance loans and overpayments.
Debts You Can't Get Rid Of
Although bankruptcy eliminates some debt, it doesn't eliminate all types of debt. You may not be able to eliminate certain types of debt, including child support, alimony, student loans, tax debts and secured debts.
The following debts are not dischargeable in Chapter 7, but can be discharged in Chapter 13 bankruptcy:
- marital debts created in a divorce or settlement agreement
- debts incurred to pay a non-dischargeable tax debt
- court fees
- condominium, cooperative, and homeowners’ association fees incurred after the bankruptcy filing date
- debts for loans from a retirement plan
- debts that couldn’t be discharged in a previous bankruptcy.
Salinas Office:
30 E. San Joaquin St,
Suite 203G
Salinas, CA 93901
Phone:
831-783-0260
Fax: 831-585-1024
Disclaimer: Central Coast Bankruptcy, Inc., A Professional Law Corporation, is a federally designated DEBT RELIEF AGENCY. This law firm provides legal advice about filing for bankruptcy and represents people and small businesses in filing for bankruptcy relief under the US Bankruptcy Code. The information described on this website is for informational purposes only, and should not be considered legal advice or legal authority. Further, the provision of such information does not form an attorney-client relationship. As such, you should not act or rely on this information before seeking the advice of legal counsel.No testimonial or endorsement anywhere on this website constitutes a guarantee, warranty or prediction regarding the outcome of your legal matter. Until an attorney-client relationship has been formed, any communication made may not be privileged.his website and its contents are considered an advertisement under the regulations of the State Bar of California.