Is There a Chapter of Bankruptcy That Will Eliminate All My Debt?

You can choose to file for personal bankruptcy under either Chapter 7 or 13. The major difference between these two options is that Chapter 13 bankruptcy generally involves a debtor entering into a payment plan to reorganize their payment schedules and pay back most of their debts. Chapter 7 bankruptcy orders typically discharge most of a debtors personal debts, but there are some important exceptions.

The main categories of personal debts that cannot be discharged in a Chapter 7 bankruptcy order include

  • Student loans
  • Alimony
  • Child support
  • Restitution owed
  • Court fees and fines
  • Tax debts

In addition, there are other categories of personal debt that may not be discharged if a creditor successfully objects. This objection would be raised at the Section 341 meeting of the creditors. For example, personal luxury purchases within 90 days of filing your bankruptcy petition, debts owed for embezzlement or fraud, debts owed for malicious acts and debts owed to a creditor that you failed to list on your bankruptcy petition.

It is important to consult with an experienced bankruptcy attorney because responding to a creditor’s objection can be a complicated process if you are not familiar with bankruptcy law.

Why You Should Retain a Trusted Bankruptcy Lawyer to Represent You

When you work with the Brooklyn NY bankruptcy lawyers from Ursulova Law Offices, you will receive access to knowledgeable and experienced bankruptcy attorneys who will give your case the attention you deserve. The legal team at Ursulova Law Offices is standing by to assist with your personal bankruptcy filing and help you discharge eligible debts to get a clean state. Talk to the Brooklyn NY bankruptcy lawyers you can count on today at (718) 368-1717 for your initial appointment.

Ursulova Law offices, P.C.

Contact Ursulova Law Offices, P.C. to find out how our NY Bankruptcy Attorneys can help you today. Our offices are located in New York, Brighton Beach, Brooklyn and Garden City.


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