What Debts Can Be Discharged in Bankruptcy?
One of the biggest questions that people have in bankruptcy concerns what types of debts can be discharged. Generally speaking, unsecured debts are dischargeable in bankruptcy while secured debts (those backed by an asset such as real estate or a car) must be reaffirmed if you want to keep the asset.
At the law offices of Oliver & Legg, our lawyers offer a free initial consultation to review your debts and determine which can be discharged by filing bankruptcy. Call 732-988-1500 for a free bankruptcy consultation in Monmouth or Ocean counties.
Common types of debts that are dischargeable include:
- Credit card bills
- Medical bills
- Tax debts
- Lawsuit judgments
- Bank overdrafts
- Gambling debts
- Traffic tickets and motor vehicle surcharges
Some debts like child support are impossible to get rid of. Others, like student loans, are extremely difficult to get rid of. Secured debts generally cannot be discharged without losing the asset.
With our comprehensive knowledge of bankruptcy law and the expertise that we have honed in our decades of practice, we will work directly with you to understand which of your debts can be discharged by filing bankruptcy and which cannot.