Tag Archives: Dischargeable Debts
Some Debt Discharge Basics In Illinois
In addition to the temporary relief from repossession, foreclosures, and other adverse action, many people believe that bankruptcy eliminates most unwanted debts. For the most part, that’s true. Technically, however, bankruptcy only eliminates personal liability to repay the debt, but the obligation itself remains. Once again, technically speaking, that debt never, ever goes away,… Read More »
3 Dischargeable Debts In Bankruptcy
In the words of several Supreme Court Justices, the Bankruptcy Code is designed to give the “honest but unfortunate debtor” a fresh start. This label applies to almost all the voluntary bankruptcy petitioners in Illinois and Indiana. Since it would be impossible to get this fresh start with unpaid accounts still hanging over the… Read More »
Four Dischargeable Debts In Bankruptcy
The end result of a bankruptcy petition, in almost all cases, is a fresh financial start for the honest yet unfortunate debtor. To get this fresh start, the bankruptcy judge will discharge (legally forgive) many different kinds of debts. Sometimes, debtors want to pay what they owe, or at least most of it, but… Read More »