What Debt is Dischargeable?
Filing for bankruptcy allows you to discharge your debts and move forward in life with a clean slate.
At the Hamilton Law Offices of Quigley & Fayette, our attorneys have more than 30 combined years of experience helping individuals throughout New Jersey eliminate their debts through federal bankruptcy laws.
Mercer County Forgiven Debt Attorneys
Through the bankruptcy process, individuals are able to discharge most of their debts, including credit care debt, medical bills, mortgages, some tax debt and surcharges.
At the Law Offices of Quigley & Fayette, our lawyers will evaluate your financial and legal circumstances, and tell you in clear and plain terms the debts you will be able to eliminate through bankruptcy and those that bankruptcy will not discharge.
What Debt Is Dischargeable?
The following types of debt are almost always dischargeable through bankruptcy:
- Credit card debts
- Medical bills
- Past-due rent
- Utility bills
- Mortgages and loans
Deficiency judgments are also dischargeable. If your home was foreclosed upon, or your property was repossessed and sold for less than your debt, the bank may obtain a deficiency judgement and come after you for the difference. Filing for bankruptcy eliminates these claims and ensures you do not end up paying for a home or car you no longer own.
It can be difficult to discharge tax debt, and the process used to determine whether tax debts are dischargeable is complex. Typically, back-owed taxes are only eliminated through bankruptcy if your tax return was filed on time and was accurate, and the tax debt is more than three years old. At the Law Offices of Quigley & Fayette, we will inspect your tax liabilities to determine whether bankruptcy will eliminate these debts.
The following debts are usually not eliminated by bankruptcy:
- Child support payments
- Spousal support payments
- Student loans
- Personal injury judgments
- Government fines and penalties
Contact the Law Offices of Quigley & Fayette for a FREE consultation and to learn more about how to discharge your debts. Call our law firm today at 866-736-5351.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.