Debts Discharged in Chapter 7 Bankruptcy in New Jersey

Chapter 7 Bankruptcy Lawyer Cherry Hill, NJMany people elect to file for Chapter 7 bankruptcy since it is a good choice to discharge most or all of your debt. Of course, there are a few debts that can be categorized as non-dischargeable, but under Chapter 7 there are plenty of different types of debt that CAN be discharged.

For starters, a discharge is what releases you from personal liability for your debt and also keeps creditors you owe from taking any collection actions against you. If a secured creditor has a valid lien on your property though, they have the power to repossess it once your discharge wipes out your obligation to pay for it.

Type of Dischargeable Debt in New Jersey

The most common type of debt that is categorized as dischargeable under Chapter 7 bankruptcy is credit card debt, but it is not the only one on the list. The following are other common types of dischargeable debts:

There are also dischargeable debts that are normally non-dischargeable. For instance, student loans can be discharged if you can prove undue hardship. Auto accident claims can also be discharged, but only if you incident did not involve drunk driving. Dishonored checks can be discharged under Chapter 7 as long as they were not based in fraud. And finally, attorney fees are discharged except for child support and alimony awards.

Cherry Hill, NJ Bankruptcy Attorney Will Get You Back on Track

It is also important to note that only debt that came about prior to your date of filing will be discharged under Chapter 7 bankruptcy. Any debt you may incur after filing your petition will still be your responsibility. In order to get yourself in the best possible position, you will need the help of an experienced bankruptcy attorney. In Cherry Hill, New Jersey, look on further than the Law Office of Joel R. Spivack. With years of experience handling clients and their Chapter 7 bankruptcy, Mr. Spivack knows exactly what needs to be done to make the most of your bankruptcy. He will help make sure you are back on track toward a stable financial future. You can schedule a consultation with the Law Office of Joel R. Spivack by filling out the online contact form.

The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney-client relationship. If you are seeking legal advice, please contact our law firm directly.

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Attorney Joel R. Spivack is an experienced bankruptcy and residential real estate transactions lawyer in Cherry Hill, New Jersey. Clients come to us for legal services, but what we really provide is peace of mind. For more than 30 years, Attorney Spivack has helped people make wise, informed decisions about bankruptcy filings, debt relief options and residential real estate transactions.
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