Discharging Debt in Bankruptcy
San Diego, California, Bankruptcy Law Firm
Most people who file bankruptcy are trying to get their debts discharged by the court, meaning that if the court discharges your debt, you are no longer legally required to pay off that debt. There are certain debts that you generally cannot get a discharge for, such as back taxes, child support and student loans. Once you get a debt discharged, you are no longer obligated to pay that debt. You are only allowed to get a chapter 7 discharge every eight years. If you have an asset that has a lien on it and you get a discharge, you are no longer required to pay off that debt however, the lien holder may take back that property so it is important that you get good advice on how to handle property that has liens on them.
Free Bankruptcy Consultation, Call 858-240-2566 and set up a consultation with Jeffery R. Menard to discuss your individual options.