Hello, my name is Marcy. I would like to talk to you about the various ways bankruptcy attorneys help you eliminate debt. My attorney helped me find all of the creditors that I needed to pay back. I was astounded at the number of creditors listed on the bankruptcy. Fortunately, my bankruptcy attorney assured me that my case was completely normal and possible to discharge through the court process. I hope to use this site to reassure others about their debt situation. I will share information about bankruptcy attorney services in an effort to help others tackle this difficult problem.
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4 Debts Filing For Chapter 7 Bankruptcy Won't Discharge
Don Elliott
If you're out of work and can't keep your bills paid, you may need to file for Chapter 7 bankruptcy. This is method is for individuals that are having financial issues. However, you'll want to keep in mind there are many of your debts that won't be discharged. Knowing some things that won't be paid may be helpful to you.
1. Student loans
Did you borrow money to go to college? If so, you may have several student loans that will need to be repaid that could add up to thousands of dollars.
Getting the cash, you need to obtain an education for a career is ideal. However, you should know that your bankruptcy won't discharge this type of debt.
2. Taxes
Owing tax money to the Internal Revenue Service (IRS) is something that most people that are employed face each year. However, you may think that you can get rid of this bill if you qualify for a Chapter 7 bankruptcy.
Unfortunately, this is not the case, and you'll need to repay any money that is owed to the IRS. One thing you may want to keep in mind is that you can set up a payment plan that will make this financial burden much less.
3. Child support
If your spouse has most of the custody of your child, you may need to pay child support. This will help with many of the expenses that are necessary for the rearing of this child.
The amount of this support can significantly vary based on several factors. However, regardless of this number, you'll need to continue to pay for this support because bankruptcy won't cover it.
4. Personal injury debt
If you've been involved in a lawsuit, you may be forced to pay the other party a certain amount of money. This can vary greatly depending on the extent of the injury and the overall costs for recovery.
It will be necessary for you to pay all of the personal injury expenses yourself because this will not qualify for bankruptcy discharge.
It's vital to know what to expect when it comes to being in this situation. You'll want to know what this legal status will and won't cover before you go to the trouble of filing for it. Finding a bankruptcy law firm in your area that can help guide you through this process is vital for having the optimal results!
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