QUESTION
If I do bankruptcy, does this wipe the slate clean, or will I still have massive bills to pay?
Asked on Nov 30th, 2012 on Bankruptcy - Georgia
16 ANSWERS
Bankruptcy can eliminate all of your debt and give you a fresh start.
Answered on Dec 05th, 2012 at 3:52 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Your question cannot be answered with more facts, most debt is dischargeable and some not. Seek counsel.
Answered on Dec 03rd, 2012 at 5:07 AM
Daniel James Wilson
A BK will discharge all debts that are dischargeable. I have attached information about dischargeability.
Answered on Dec 02nd, 2012 at 10:33 PM
Probate and Estate Planning Attorney serving Harrison, MI
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David T. McAndrew, Attorney at Law
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Depends, on what Chapter bankruptcy you file, 7 or 13, and what type of debts you have, some can not be discharged, such as federal taxes, student loans, and reimbursement for certain convictions. Otherwise, most other debts are either discharged or reorganized.
Answered on Dec 02nd, 2012 at 10:26 PM
Bankruptcy Attorney serving Plantation, FL
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Moffa & Breuer, PLLC
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Bankruptcy can help many people, but there are some debts which cannot be discharged in most bankruptcy cases like recent income taxes (very complicated to explain) and student loans (almost never discharged). Consult with a bankruptcy attorney for more information.
Answered on Dec 02nd, 2012 at 10:21 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Probably, but it depends on what debts you are referring to. Please understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.
Answered on Dec 02nd, 2012 at 9:52 PM
Business Litigation Attorney serving Orange, CA
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Law Offices of Frank Granato
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You need to provide more information on the types of debts and assets you have.
Answered on Dec 02nd, 2012 at 9:39 PM
Litigation Attorney serving San Antonio, TX
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Graves Law Firm
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Chapter 7 bankruptcy, if you're eligible, wipes the slate clean except for certain debts including some taxes, child support, student loans and a few more. See a bankruptcy lawyer; most charge nothing to review your case.
Answered on Dec 02nd, 2012 at 7:38 PM
If you qualify for chapter 7 and file chapter 7 bankruptcy, you will discharge most unsecured debts such as credit cards. There are some debts that are not dischargeable through bankruptcy such as student loans, taxes and support payments, but you should consult with a bankruptcy attorney to review your over all circumstances to see if you qualify for ch. 7 and to see what debts can discharge and whether filing bankruptcy is the best solution for you.
Answered on Dec 02nd, 2012 at 7:29 PM
Construction Litigation Attorney serving Mission Viejo, CA
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Law Office of Christian F. Paul
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The purpose of bankruptcy is to give the honest debtor a fresh start by discharging (wiping out) most of his debts. There are some debts that are exempt, like student loans, but such things as credit card debt and medical bills and all kinds of other things will no longer be you obligation once the case is over. You may pay any of the discharged debts anyway, if you want and are able to, but you are not obligated to pay any of them. You can find out whether bankruptcy is right for you by making an appointment to speak with a local bankruptcy attorney. Many give a half-hour conference for free. Take proof of your earnings, copies of all property deeds and vehicle registrations, your most recent tax returns, proof of all your current obligations and/or a recent credit report, and a list of your monthly expenses. These will enable the attorney to size up your situation and give you his or her take on your situation.
Answered on Dec 02nd, 2012 at 7:12 PM
Bankruptcy can eliminate most kinds of debts, but it doesn't eliminate all kinds of debts, so I cannot offer you an iron clad guarantee that you won't have massive debts to pay without knowing more about the types of debts you have.
Answered on Dec 02nd, 2012 at 7:11 PM
Bankruptcy Law Attorney serving Livingston, NJ
Partner at
Law Office of Stuart M. Nachbar, P.C.
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In NJ; it will assist in wiping away most bills depending on which chapter you file.
Answered on Dec 02nd, 2012 at 7:02 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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Bankruptcy can wipe the slate clean and give you a fresh start. Consult with a local bankruptcy attorney.
Answered on Dec 02nd, 2012 at 7:00 PM
Bankruptcy Law Business Attorney serving Asheville, NC
Partner at
Pitts, Hay & Hugenschmidt, PA
2 Awards
There may exceptions, such as taxes, but the main idea is to give you a fresh start without any debt.
Answered on Dec 02nd, 2012 at 7:00 PM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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With some exceptions it will wipe the slate clean.
Answered on Nov 30th, 2012 at 5:04 PM
Bankruptcy Attorney serving Buford, GA
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Kenneth A. Parker, PC
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A Chapter 7 Bankruptcy case will wipe the slate clean on most debts. Call a Bankruptcy attorney to see if you qualify.
Answered on Nov 30th, 2012 at 5:02 PM