What Types Of Debts Can Be Eliminated?

When most people consider bankruptcy, they do so with one goal in mind: to lift the oppressive burden of debt that is dragging them or their businesses down. This means that the most pressing concern that such individuals or business owners have is whether or not bankruptcy can free them from very specific debts, such as a $100,000 hospital bill or several months' worth of missed mortgage payments.

I am Robert E. Bardwell, Jr., Attorney at Law, and I am here to help you find answers to your questions. I have decades of experience as a Columbus lawyer for debt discharge, which gives me the knowledge my clients need to make intelligent, informed decisions about eliminating different kinds of financial obligations.

Dischargeable And Nondischargeable Debts In Hilliard And Throughout Central Ohio

In most cases, filing Chapter 7 bankruptcy will eliminate all unsecured debts. This means that you will no longer be legally obligated to repay:

Not all debts are dischargeable, however. Examples of secured, nondischargeable debts include:

  • Most state and federal taxes
  • Student loans
  • Alimony or spousal support obligations
  • Child support obligations
  • Debts incurred through fraud or theft

Even though a particular debt may not be dischargeable, filing bankruptcy may still benefit you. If you have both secured and unsecured debts, eliminating the unsecured ones (such as credit card bills) may make it possible for you to begin repaying the secured ones (such as student loans).

Contact A Hilliard Bankruptcy Attorney Serving Individuals And Businesses

To learn more about how I can help, schedule a free financial evaluation at my Hilliard or Columbus office. Simply call 614-907-3665, or contact me online. Evening and weekend appointments are available by request.

†The firm is a debt relief agency and helps people file for bankruptcy relief under the Bankruptcy Code.