Bankruptcy law is extremely complicated, you need an experienced bankruptcy attorney to guide you through the process. Our attorney has over 25 years working exclusively in bankruptcy law. Not only does he understand bankruptcy and have great working relationships with all the judges and trustees, he understands that people are in bankruptcy because they don’t have any money and he does all he can to make the process as painless and affordable as possible.
Depending on your situation you can be filed for as little as $100 down and then we customize a payment plan for the balance!
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What is Chapter 7 Bankruptcy and What Will It Do For Me?
Chapter 7 bankruptcy is the bankruptcy that allows for a complete discharge of your outstanding debts. Not all debts are dischargeable in a Chapter 7 bankruptcy.
Debts That are Discharged
The chapter 7 discharge order eliminates a debtor’s legal obligation to pay a debt that is discharged. Most, but not all, types of debts are discharged if the debt existed on the date the bankruptcy case was filed. (If this case was begun under a different chapter of the Bankruptcy Code and converted to chapter 7, the discharge applies to debts owed when the bankruptcy case was converted.)
Debts That are Not Discharged
Some of the common types of debts which are not discharged in a chapter 7 bankruptcy case are:
a. Debts for most taxes;
b. Debts incurred to pay non dischargeable taxes;
c. Debts that are domestic support obligations;
d. Debts for most student loans;
e. Debts for most fines, penalties, forfeitures, or criminal restitution obligations;
f. Debts for personal injuries or death caused by the debtor’s operation of a motor vehicle, vessel, or aircraft while intoxicated;
g. Some debts which were not properly listed by the debtor;
h. Debts that the bankruptcy court specifically has decided or will decide in this bankruptcy case are not discharged;
i. Debts for which the debtor has given up the discharge protections by signing a reaffirmation agreement in compliance with the Bankruptcy Code requirements for reaffirmation of debts; and
j. Debts owed to certain pension, profit sharing, stock bonus, other retirement plans, or to the Thrift
This information is only a general summary of the debts that can or cannot be discharged. There are exceptions to these general rules. Please contact the Sterling Heights Bankruptcy Attorney Services for further assistance.