Chapter 7 Success Lawyers Chicago - What Debts are Discharged?

What Debts are Discharged?

You know, one of the other misconceptions that people have and people think about quite often is okay, I’m going to come in, I’ve decided I’m going to do a bankruptcy. I’ve looked at everything else and really this is my only option. So, are all of my debts going to be wiped out? You know we talked about it a little earlier about whether or not I get to keep my property. I guess sort of on the flip side of that as well. Are all my debts going to be discharged? Am I not going to owe Uncle Bob or Aunt Sue? Am I not going to owe the I.R.S.? Am I not going to owe the guy that I ran my car into?
That would be nice wouldn’t it?
It would.
No, but in reality there are some debts that are not eliminated. And those are typically student loans, recent taxes, parking tickets, child support, and alimony. Those debts stick around.
So, if I get a parking ticket or if I have a bunch of them I can’t eliminate the debt?
Plan on paying it because it’s not going to be eliminated, even if it’s in Chicago.
It’s not going to be included.
That’s right.
You mentioned other things like maintenance or alimony. That’s something that, or child support, right? That’s something that I’m also going to have to pay, even if I’m a little bit behind?
That’s correct and you can see why. People would just never pay child support and then file bankruptcy if it was something that they could get rid of. So, the obligation to pay a child or a former spouse by way of maintenance, alimony, support or any court order for that matter that relates to that child or the spouse is going to be held due and owing.

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