What debts can be discharged in bankruptcy?

Asked 6 months ago
In bankruptcy, certain debts can be discharged, providing the debtor with financial relief. Generally, unsecured debts such as credit card bills, medical bills, personal loans, and past due utility bills can be discharged. Additionally, certain tax liabilities, excluding recent income tax debts, can also be discharged under specific circumstances. However, it is important to note that there are exceptions to this general rule. Debts like student loans, child support, alimony, fines, penalties, and debts incurred as a result of fraudulent activities cannot be discharged. It is recommended to consult with a bankruptcy attorney to determine which debts can be discharged in your specific situation, as bankruptcy laws may vary depending on the jurisdiction.
Jeff Whelpley is the editor / author responsible for this content.
Answered May 3, 2024

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