When filing for bankruptcy, it is important to understand the difference between dischargeable and non-dischargeable debts. The bankruptcy code can be confusing if you don’t know what you’re doing. That’s why Joshi Law Group has your back. We help you through the bankruptcy process to ensure you are properly informed about the type of debts that can be discharged in bankruptcy. When you need debt relief, you need a bankruptcy attorney who understands your unique financial situation and will guide you through the process. At Joshi Law Group, we have more than 20 years of experience helping people eliminate their debt and start fresh.
Dischargeable Debt
Dischargeable debts are those debts that can be eliminated in bankruptcy. These include credit card debt, medical bills, personal loans, deficiency judgments from repossessions, and certain types of taxes. In Chapter 7 bankruptcy, most discharged debts are wiped out immediately upon the completion of the case. Most debts incurred can be discharged but not all. Deciding what to do about outstanding debt can be hard and it is important to seek the advice of a qualified attorney. A bankruptcy discharge is an order that releases a debtor from personal liability for certain types of debts.
That’s why at Joshi Law Group we help you through every step of the process, from helping you determine which debts are dischargeable and which ones aren’t. An experienced bankruptcy attorney can also assist with filing the necessary paperwork associated with your case.
Nondischargeable Debts
Most debts in bankruptcy can be gotten rid of but non-dischargeable debts are those that cannot be discharged in bankruptcy. These include debts arising from student loan debt, child support arrearages, alimony payments, most taxes (other than income taxes), and certain other types of debt. It is important to note that not all non-dischargeable debts are forever. Some debts, such as student loan debt or back taxes, can be paid through a payment plan after the bankruptcy case is over. Other examples include payments owed for personal injury caused by the debtor while intoxicated and operating a motor vehicle.
At Joshi Law Group, we understand how confusing bankruptcy law can be. We will help you navigate the laws and make sure your financial future is secure. Contact us today for a free consultation with a bankruptcy lawyer. We will discuss your options and help you find the best way to move forward.
We look forward to hearing from you soon! Thank you for considering Joshi Law Group.
Bankruptcy Court
Bankruptcy court filing fees are used to fund the court system and its associated staff, so it’s important to pay them in full and on time in order for your case to be heard. It’s also important to remember that, while bankruptcy can offer a fresh start financially, there will still be costs associated with the process and these must be paid before you can get a discharge of your debts.
These fees are an important part of the process and should not be overlooked when calculating bankruptcy costs. It’s important to understand what fees will be due in order to properly budget for the process and ensure that you are able to complete it successfully. Knowing all the costs associated with filing for bankruptcy will help you make the best decision for your financial situation and ensure a smooth process.
The Bankruptcy Filing Process
After seeking advice from a lawyer and learning about the bankruptcy process, you can start to file bankruptcy. The necessary paperwork includes a petition, asset, and liability schedules, and other supporting documents. This will trigger an automatic stay that prevents creditors from taking any action against you or your property.
You must participate in a credit counseling session that is required and show proof of completion. Our bankruptcy cases are submitted to the bankruptcy court in the Southern District of California (San Diego), and a case number will be assigned by the court for our submission.
Once you finish the proposed repayment plan, you need to attend a meeting of creditors, also known as a hearing in front of a bankruptcy judge. The judge will thoroughly review your plan and suggest changes if needed. During this hearing, you’ll have to answer questions about your financial status. After the approval by the judge, you can start rebuilding your financial future and credit.
Joshi Law Group Can Help You Today!
Contact our San Diego bankruptcy attorneys to learn more about how we can help you become debt free with a fresh start. Simply call us at 619-822-7566 to get started where a free consultation can be about an hour depending on the details! We can help you explore your options on the phone or in person to determine the best course of action for your unique situation. Our experienced and knowledgeable San Diego Bankruptcy Attorneys are here to help you get a fresh financial start.
Frequently Asked Questions
What is the difference between dischargeable and nondischargeable debts?
Dischargeable debt is the type of debt that can be eliminated in bankruptcy, such as card debt and medical bills. Nondischargeable debt explained simply, is the type of debt that cannot be discharged in bankruptcy, such as student loan debts or alimony payments.
What is considered a non-dischargeable debt?
Non-dischargeable debts include student loan debt, child support arrearages, alimony payments, most taxes (other than income taxes), and certain other types of debt.
What are dischargeable debts?
Dischargeable debts are those that can be eliminated in bankruptcy, such as credit card debt, medical bills, personal loans, deficiency judgments from repossessions, and certain types of taxes. Dischargeable debts and their requirements vary depending on what type of bankruptcy the debtor files under federal bankruptcy law and the debts owed.
What are 5 nondischargeable debts?
1. Student loan debt
2. Child support arrearages
3. Alimony payments
4. Most taxes (other than income taxes)
5. Certain other types of debt, such as debts for fraud or intentional injury to another person or their property.
Are child support payments considered discharged debt?
No, child support payments are not considered discharged debt in bankruptcy.
