Tampa Bankruptcy Information About Debt Discharges
A debt discharge is a permanent injunction by the bankruptcy court that prevents creditors from ever collecting on your debt. If creditors violate that injunction, they can be held in contempt of court.
I am Timothy J. Sierra, Attorney At Law. With offices in Tampa, Riverview and Brandon, I help clients throughout Florida to discharge unsecured debts through Chapter 7 or Chapter 13 bankruptcy.
Dischargeable and Nondischargeable Debts
In bankruptcy, dischargeable debts usually include:
- Credit card debts
- Medical bills
- Deficiencies on foreclosed homes
- Deficiencies on repossessed vehicles
- Judgments
Some nondischargeable debts usually include:
- Most Tax debts
- Student loans
- Alimony and child support
- Criminal restitution and fines
- Debt not listed by the debtor
Secured Debts
With a secured debt such as a car loan, your car payments may be far more than the actual worth of the vehicle. In Chapter 7, you can either turn over the car to your lender and not owe a penny, or you can redeem the car at fair market value with a lump sum payment. In Chapter 13, you can create a repayment plan to pay back the fair market value of the car possibly at a lower rate of interest than the finance charge in the contract.
Reaffirmation of debts is also a factor in many bankruptcy cases. If you want to keep a secured debt, you may be required to reaffirm the debt. Reaffirming the debt means it is no longer discharged.
Arrange a Free Initial Consultation
If you have questions about what debts are forgiven in bankruptcy, do not hesitate to schedule a free initial meeting with an experienced bankruptcy lawyer. Call the Florida office toll free at 877-492-7449 or locally at 813-463-2256, or contact the firm online. Se habla español.
†We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
