Debts That Are Sometimes Dischargeable in Bankruptcy

Find Out What Type of Debt Relief Is Possible

Unsecured debts such as credit cards and medical bills are typically dischargeable in bankruptcy. Secured debts such as mortgages and car loans are not dischargeable if you want to keep the home or car. However, there are certain types of debt that are more difficult to categorize.

If you have questions about the debts and obligations you owe, speak with an attorney at Saeed & Little LLP We can review your finances and help you determine what chapter of bankruptcy may be right for you. If your debts are not dischargeable and you cannot afford to repay them, we can discuss alternatives to bankruptcy.

Do You Have Dischargeable Debts?

Some debts and obligations are dischargeable under certain circumstances. Depending on the specifics of your debt, you may be able to discharge the following:

• Injury or wrongful death judgments — you may discharge these judgments if they do not involve DUI accidents
• Taxes — you can discharge tax debts that are more than three years old for which you filed returns more than two years previously and which have been assessed more than 240 days prior to filing bankruptcy

There are some debts that are dischargeable under Chapter 13, but not Chapter 7. These include:

• Debts for willful and malicious injury to property
• Debts incurred to pay non-dischargeable tax obligations
• Debts arising from property settlements in divorce or separation

Under Chapter 13, you can discharge or lien strip a second mortgage or home equity loan when your real estate values have decreased so the property only provides enough value to secure a first mortgage.

Speak With a Bankruptcy Lawyer Today

For a free telephone consultation, please call us in Indianapolis at 317-685-2426 or toll free at 317-685-2426, or contact us online.

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