Dallas Dischargeable Debts Attorneys
Chapter 7 bankruptcy is a type of liquidation bankruptcy in which a filer’s debts are wiped clean, or “discharged.” While this may not apply to all expenses, many types of debts will likely be discharged at the conclusion of your Chapter 7 bankruptcy. When a debt is discharged by a judge during Chapter 7 bankruptcy proceedings, the debtor is released from personal obligation or liability for that debt. This process forces the creditor to cease all attempts to collect on the debt, and prevents any collection actions. When considering what type of bankruptcy to file, debtors usually seek Chapter 7 because it take significantly less time to go through and many more types of debts will be forgiven during the process.
While the benefits of Chapter 7 bankruptcy and dischargeable debts are numerous, the process of filing is incredibly complex. Individuals who have little experience with financial matters run the risk of being turned down for Chapter 7 bankruptcy. The bankruptcy attorneys at the Dallas and Fort Worth offices of Gagnon, Peacock & Vereeke, P.C., have extensive knowledge of the filing process and are here to help you ensure the best results.
Common Chapter 7 Dischargeable Debts
While not all types of debts can be forgiven during Chapter 7 bankruptcy, the ones that qualify to be wiped out are often the types of debts that most individuals struggle with. Some of the debts that can be discharged through Chapter 7 bankruptcy are:
- Credit card debt
- Medical bills
- Personal loans
- Utility bills
- Business debts
- Tax penalties
It is important to note that criminal activity, fraud, or misconduct associated with any of an individual’s dischargeable debts may render them non-dischargeable. It is also important to remember that proper documentation is required if one hopes to have his or her debts wiped out.
Contact a Chapter 7 Dischargeable Debt Attorney
If you live in the Dallas or Fort Worth areas and are considering filing for bankruptcy, it is in your best interest to seek the advice and guidance of an experienced attorney. Our bankruptcy lawyers at Gagnon, Peacock & Vereeke, P.C., have helped a number of struggling individuals find relief through effective bankruptcies. Call us today at (214) 317-4448 to find out more about the services we offer.