As a resident of Ohio, you have several options to look into if you are considering filing for bankruptcy. For example, Chapter 7 bankruptcy offers relief from certain debts by allowing you to discharge them. However, it is crucial to note that not every debt you hold can be dismissed through bankruptcy.
FindLaw takes a look at the types of debt that can and can’t be discharged by filing for Chapter 7 bankruptcy. Typically, most types of unsecured debt CAN be discharged. Unsecured debts are debts without an underlying loan asset and can include:
- Credit card charges
- Medical bills
- Back rent
- Utility bills like electricity or telephone
However, there are also unsecured debts that you may still have to pay back, including student loans. Other types of debt that cannot be discharged exist as well. This may include things like child support or alimony payments, fines you were given for breaking the law, and cooperative housing fees.
Finally, some types of debts can be discharged if you file for Chapter 13 bankruptcy, but cannot be discharged by filing for Chapter 7. This can include the property settlements that come from a divorce, non-dischargeable tax obligations, and any debts that you might have related to malicious or willful destruction of property.
Filing for bankruptcy can help you regain control over your financial situation. However, it is not a cure-all, and that is important for you to keep in mind while moving forward with your financial decisions. For reasons like this, it can be helpful to have the expert advice of a legal professional.