Learn about dischargeable versus non-dischargeable
When filing for Chapter 7 bankruptcy, the goal is often to get rid of as many debts as possible through a discharge. Dischargeable debts are those that can be eliminated completely, leaving you free from any obligation to repay them. Non-dischargeable debts, on the other hand, will remain after the bankruptcy process is complete.
Non-Dischargeable Debts: What to Consider
Some common examples of non-dischargeable debts include recent tax debts (less than three years old), child support payments, court fines, and student loans. These debts are generally not eligible for discharge and will need to be addressed separately from your bankruptcy filing. It’s important to be aware of these obligations before moving forward with a bankruptcy case.
Exceptions and Objections to Dischargeability
In some cases, creditors may object to the discharge of certain debts, claiming that they should be considered non-dischargeable. This can lead to additional legal proceedings within your bankruptcy case, known as an objection to dischargeability or an adversary proceeding. It’s crucial to work with an experienced bankruptcy attorney to navigate these complex issues and protect your rights.
Take the First Step Toward Financial Freedom
If you’re struggling with overwhelming debt and considering bankruptcy as a solution, don’t hesitate to reach out for help. Contact Edward Kelly, your dedicated bankruptcy attorney, for a low-cost initial strategy session. Call 405-563-7888 or email Edward Kelly Law Office at gmail.com to schedule your consultation and take the first step toward a fresh financial start.