Debts NOT Discharged in Bankruptcy

Wasson and ThornhillDischarge of Debts, Uncategorized

Bankruptcy wipes out most debts. The only ones that aren’t are explicitly not discharged under federal bankruptcy law.   Debts Covered by the Discharge The basic rule is that bankruptcy discharges all your debts unless a particular debt fits a listed exception. Focusing on Chapter 7 “straight bankruptcy” today, you will likely receive an Order of Discharge from the bankruptcy court within … Read More

Bankruptcy Wipes Out Debts

Wasson and ThornhillDischarge of Debts

You know bankruptcy wipes out debts. But WHEN it does so is very different with Chapter 7 vs. Chapter 13. Either way, at the end they are gone.   The main goal of most consumer bankruptcy cases is to get a fresh financial start through writing off debts.  The legal bankruptcy term for write-off is “discharge.” In virtually all successful … Read More

Unexpected Benefit: Stop Collection on an Allegedly Fraudulent Debt

Wasson and ThornhillDischarge of Debts

You’re not likely to be accused of creating a fraudulent debt. But if so, bankruptcy can stop its collection. And resolve the problem.   Most Debts are Discharged (Permanently Written Off) in Bankruptcy The federal Bankruptcy Code has a list of the kinds of debts that filing bankruptcy does not discharge. This list details the conditions under which discharge does … Read More

The Chapter 7 Trustee Opposing Your Discharge of Debts

Wasson and ThornhillDischarge of Debts

In most Chapter 7 cases nobody opposes your discharge of debts. They get written off. But the trustee is one who might raise issues.   Last week we discussed the role of the Chapter 7 trustee in reviewing your assets at the “meeting of creditors.” Today we get into the other main job of the trustee, to, “if advisable, oppose … Read More