Understanding What Constitutes Dischargeable Debt
After successfully applying for Chapter 7 bankruptcy, an individual’s unsecured debts may be discharged. In such cases, a copy of the final order of discharge informs all creditors that applicable debts have been released, and no further attempt to collect those debts should be taken. Furthermore, creditors are informed that should they continue to try and collect any debt owed, they may be subject to litigation. With these debts discharged, individuals are granted a fresh start and are able to regain financial control over their lives.
The attorneys at Hong Law, PLC understand the lasting impact of debt on the lives of individuals and families alike; we may consult with you to help you understand the best legal options for your particular situation.
Dischargeable Debts Under Chapter 7 Bankruptcy
Understanding which debts may or may not be discharged under a Chapter 7 bankruptcy case can be critical for individuals considering the bankruptcy process. Commonly, the following debts are discharged:
- Medical bills
- Credit card debts
- Dishonored checks
- Car accident claims
- Business debts
Removing these debts can be central to an individual gaining financial independence once again. The lawyers at Hong Law, PLC understand just how difficult and confusing bankruptcy can be. We have the experience and knowledge to help you understand how filing for Chapter 7 bankruptcy may be beneficial in your unique situation.
Contact a Marion Chapter 7 Bankruptcy Lawyer Today
To further discuss whether your debts might be dischargeable under a Chapter 7 bankruptcy claim, enlist the legal counsel of the experienced Marion bankruptcy lawyers at Hong Law, PLC. Contact our offices today by calling (319) 294-5853.
Coralville, IA 52241
Phone: (319) 354-1804
Map to our Coralville Office