Thursday, December 11, 2014

Can All My Debt Be Discharged Through Bankruptcy?

If you’re thinking about filing for bankruptcy in Georgia, then you’re most likely wondering what types of debts you will be able to discharge. Your bankruptcy discharge releases you from personal liability for certain types of debts. This means that once a debt is "discharged" through bankruptcy, you’re no longer legally required to pay those debts.

The discharge itself is a permanent order that prohibits creditors from collecting on debts, or contacting you through phone calls and letters. Most debts are dischargeable.  However, not all debts can be discharged through bankruptcy.

The most common types of non-dischargeable debts include the following:

Some tax debts (especially debts for recently-filed tax returns)
Child support
Spousal support or alimony
Debts from malicious injuries to persons or property
Government fines or penalties
Guaranteed educational loans
Government funded loans
Debts for personal injury actions involving drunk driving

While this list of non-dischargeable debts may seem like a long one, most people are eligible to discharge all of their debt, including medical debts, credit card debts, taxes over three years of age, personal loans, past repossessions, broken apartment leases, etc.  Your bankruptcy attorney will help you discharge your debts and protect your assets.

King and King can help you determine what debts you can discharge and if bankruptcy is right for you. Call us today for a free case evaluation at 404-524-6400 or visit us online at