What Type Of Debt Is Not Covered Under Bankruptcy?

What Type of Debt is Not Covered by Bankruptcy? 

Bankruptcy will allow you to wipe out the vast majority of your debt. However, there are some debts that you will not be able to get rid of with bankruptcy. If you have child support and alimony, then you will not be able to get rid of them with bankruptcy. However, if you file for Chapter 13 bankruptcy, then you can set up a repayment plan that includes child support and alimony.

You probably will not be able to get rid of student loan debt with bankruptcy. However, there are some exceptions to this. You have to be able to prove that paying your student loan would create an undue hardship for you. Additionally, you probably will not be able to get rid of your tax debt with bankruptcy.

It is possible for to eliminate older tax debts with bankruptcy. However, there are several requirements that have to be met.

Debt That is Covered by Bankruptcy 

Bankruptcy will get rid of most unsecured debt. This includes things such as medical bills, personal loans, credit cards, dishonored checks, business debts, past due utility bills and auto accident claims. You will also be able to get rid of civil court judgments unless there was some type of fraud involved.

Once you file for bankruptcy, your creditors will not be able to contact you anymore. The creditor can face legal consequences if they attempt to contact you.

Contact A Bankruptcy Lawyer Brighton Beach 

Bankruptcy is not an ordeal that you should go through alone. You need to contact Brooklyn bankruptcy lawyer. Your Brooklyn bankruptcy attorney will outline all of the pros and cons of filing for bankruptcy. Your attorney can also help you decide whether Chapter 7 or Chapter 13 is the best option for you. Additionally, your attorney will guide you through this process.