What Types Of Debt Are Discharged In Bankruptcy?

For most people, the primary goal of filing bankruptcy is to discharge (get rid of) their debt.

One of the most important considerations in evaluating whether bankruptcy is right for you is understanding which types of debts can be discharged and which cannot. While credit card debt and medical debt are two of the most common types of dischargeable debt, there are other types of debts that can be discharged.

Experienced Essex County debt and bankruptcy lawyers Bruce Levitt and Shelley Slafkes have represented thousands of people throughout New Jersey who are facing financial hardship due to unmanageable amounts of debt. We provide comprehensive personal and business bankruptcy services, including Chapter 7, Chapter 11 and Chapter 13 filings. We conduct a thorough review of your situation and help you determine the best approach to get the debt relief you need. Contact us today.

How Can A Debt Discharge Help Me?

Every person receives a discharge at the end of his or her bankruptcy proceeding. Once you get your discharge, you have no further personal obligation to pay any debt that was included in your bankruptcy. Even if the debt was not paid in full, the creditor is not allowed to continue collection activity if the debt was discharged in your bankruptcy.

While most debts can be discharged in bankruptcy, several cannot. Generally speaking, the following types of debt cannot be discharged:

  • Most student loans
  • Federal income taxes that are less than three years past due
  • Child support and other obligations ordered in a divorce agreement
  • Fines and restitution associated with criminal activity or malicious conduct
  • Fraudulent debt

Contact Our Team To Find A Solution

Contact Levitt & Slafkes, P.C., to discuss your debt relief options with one of our attorneys. We offer a free initial consultation where you can find out which of your debts are dischargeable and get all of your questions answered. You can reach us by filling out our online form or by calling 973-323-2953.

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