What types of debt can bankruptcy help get rid of?

Answer Most types of debt can be discharged through filing for bankruptcy. However, there are some types of debt that cannot be eliminated, even if you do file. These types include student loans (unless t... Read More »

Top Q&A For: What types of debt can bankruptcy help get rid of

In Chapter 7 Bankruptcy can you use the Homestead Federal Bankruptcy Exemption to keep your 120000paid off condominium with a lien against it for an 11000credit card debt in pa?

Your right that PA has no special homestead exemption for BK and you would rely on the Federal one.The lien (the Cr Card one), is essentially the same as a first position mortgage against the prope... Read More »

Bankruptcy & Tax Debt?

Once a taxpayer files for bankruptcy protection, the process for the Internal Revenue Service to collect his tax debt is left to the bankruptcy court and not the IRS. How tax debt is treated will ... Read More »

Can an IRS debt be included in a bankruptcy?

You can include IRS tax debts in a bankruptcy filing as long as the following conditions are met: Debt can only be taxes on income;There was no tax evasion or fraud;The debt is at least three years... Read More »

Can bankruptcy eliminate tax debt?

Bankruptcy, whether Chapter 7 debt forgiveness or a court-supervised repayment plan through Chapter 13, cannot eliminate all tax debts. If your tax debt is less than three years old, you must make ... Read More »