Blog > 2020 > November > What Debts Are Dischargeable?
One of the biggest benefits of bankruptcy is the fact that your debts can be permanently wiped out through a successful filing. Many people give bankruptcy a bad reputation as a last resort method that doesn’t merit much positive change, but many more are simply unaware of the long-term benefits. Below you’ll find a guide to the debts that you may be struggling with that bankruptcy can help relieve.
A discharge releases a debtor from the responsibility of paying a debt and prevents any creditor from taking any action to collect a debt they are owed. In its simplest form, a debtor is no longer legally required to pay any debts that have been discharged by the bankruptcy.
In most cases, debtors will automatically receive a discharge at the end of their Chapter 7 filing. Discharges under this Chapter are usually granted by the court 60 days after the Meeting of Creditors, usually four months after filing a bankruptcy petition.
That being said, here is a list of debts that can be discharged under Chapter 7 bankruptcy:
Once the bankruptcy process is completed, debtors can be issued a discharge or partial discharge through Chapter 13, but there are some instances where a debtor may need to convert their case to a Chapter 7 to gain the proper relief.
There are debts, however, that can only be discharged under Chapter 13 that are unavailable to Chapter 7 filers. Here they are:
We understand the confusion that many people feel when it comes to bankruptcy. We are committed to showing people the true benefits of bankruptcy through a compassionate and personalized approach.
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