How to Discharge Your Debt
Get Rid of Your Debt with a Chicago Bankruptcy Lawyer
Bankruptcy is a powerful tool that consumers can use to get a fresh start
toward a better financial future. One of the main reasons for filing bankruptcy
is that certain debts can be discharged. A discharge permanently releases
the debtor from repayment burdens and prohibits creditors from taking
any action to collect.
If you are overburdened with debt, consult with a knowledgeable Chicago
bankruptcy attorney at Smith Ortiz, P.C. We can offer professional assistance in
finding the best debt relief option for your particular situation. Our
lawyers have more than two decades of combined experience and backgrounds
in finance and bankruptcy law. We possess the knowledge, skill, and insight
to accurately evaluate your situation and recommend the best course of
action to help you get and stay out of debt.
Dial (312) 945-7451 today to move forward with discharging your debt!
Which Debts are Dischargeable in Bankruptcy?
The debts that are discharged depend on whether you file for
Chapter 7 or
Chapter 13. In Chapter 13, individuals are required to repay some of their debts
based on their income. Chapter 7, however, does not have a repayment plan
and many are discharged.
Debts that are discharged in both Chapter 7 and Chapter 13 include:
- Credit card debt
- Medical bills
- Personal loans
- Debts related to breach of contract or negligence
- Collection agency bills
- Older tax obligations
Along with bankruptcy, it may also be possible to minimize or discharge
your debt through certain alternatives, such as debt consolidation and
loan modification. Every person is facing unique financial difficulties, so what works in
one instance may not work for you. Our firm is dedicated to upholding
your best interests and that means creating a unique strategy based on
Let our Chicago bankruptcy attorneys help you determine which debts you
can avoid paying by filing for bankruptcy protection or utilizing an alternative.
We believe everyone deserves a fresh financial start and will work tirelessly
to help you achieve exactly that!
Contact us to discuss filing for bankruptcy and what debts you can discharge.