All unsecured Debt may be discharged in chapter 7,(credit cards, personal loans, and others) secured debts (such as car loans and mortgage), and other assets will be taken by the estate, and will be used to repay the creditors, it is very important that you discuss this with your attorney if you are planning to keep your house or car, taxes owed, student loans will not be discharged...
While virtually all debts MUST be included in your bankruptcy, (it is not a matter of picking and chosing..all must be included), some debts cannot be discharged, just like all assets MUST be listed but not all may be taken.
Most noteably: Debts for gov't insured student loans and past and future child support are not dischargeable.
Many assets like retirement accounts, household goods, a reasonable car, are not able to be used to satisfy debts.
Q: Are all of the debtor's debts discharged, or only some?
A: Not all debts are discharged. The debts discharged vary under each chapter of the Bankruptcy Code. The Code specifically excepts various categories of debts from the discharge granted to individual debtors. Therefore, the debtor must still repay those debts after bankruptcy. Congress has determined that these types of debts are not dischargeable for public policy reasons (based either on the nature of the debt or the fact that the debts were incurred due to improper behavior of the debtor, such as the debtor's drunken driving).
There are 19 categories of debt excepted from discharge under chapters 7, 11, and 12. A more limited list of exceptions applies to cases under chapter 13. The most common types of nondischargeable debts are
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Chapter 7 is a "fresh start" bankruptcy. You are discharged from all debt included in the bankruptcy. There are some debt that you cannot discharge.
The debt collector cannot change the date of anything, legally. If the account was discharged in bankruptcy, everything up to the filing date is not owed any longer.
Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.
As a creditor you cannot stop bankruptcy proceedings on anything. You can, however, file an objection in BK Court to why the debt to you shouldn't be discharged.
If the bankruptcy is discharged you are no longer responsible for the debt.
No, only unsecured debt is discharged.
no
Unless it is a tax debt, none. Discharged debts are not income to the debtor.
Once the debt is discharged, a creditor cannot reinstate it, even if you win the lottery.
When it is filed. A discharge may be opposed by a creditor and there may be listed debts that cannot be discharged, or unlisted debts that may be discharged, so the "discharge" date is irrelevant.
The bankruptcy is not discharged, the debts are. A creditor can be added if the plan is not too far along or if you have the excess income to pay whatever the creditors are being paid (percent of debt) for the balance of the plan. If it is a post-filing debt, it cannot be added.
Yes if there was a lien on it. If your bankruptcy was discharged, it simply discharged the debt, not the collateral.