San Jose Bankruptcy: Will All My Debts Be Wiped Out?

Bankruptcy myth: All my debts will be absolutely wiped after my Chapter 7 bankruptcy is filed.

Even though a Chapter 7 bankruptcy filing will wipe away most of your debts, there are specific debts that the bankruptcy case filing action will not erase.

Some of the debts that will not disappear are student loans issued by the government, student loans guaranteed by the government, alimony debt or debts, fraud-related debt, and also debt related to child support stipulations.

Additionally, it is not likely that legal settlements that you’ve been assessed with will be discharged.  However, every debt scenario is different, therefore every bankruptcy case is different. A skilled bankruptcy attorney can assist you with determining your bankruptcy options and coming to a solution that fits your particular needs.
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