Non-dischargeable debt in a Chapter 7 bankruptcy
Posted on Tuesday, March 31st, 2015 at 2:12 pm
Through the process of Chapter 7 bankruptcy, individuals living in Raleigh may be able to discharge many of the debts that brought them to their present financial circumstances. However, not all debts may be discharged under Chapter 7 bankruptcy, including:
- Unpaid taxes
- Spousal and child support payments
- Most student loans
- Debt owed on tax-advantaged 401ks
Though these debts may be discharged under some exceedingly rare circumstances, they more often must be paid in full after the process of Chapter 7 bankruptcy has been concluded. However, these debts are usually restructured into more realistic repayment plans as part of the bankruptcy process.
If you are considering the potential benefits of Chapter 7 bankruptcy, you should speak with one of the Raleigh Chapter 7 bankruptcy attorneys at the Bradford Law Offices, PLLC, to learn more about the impact bankruptcy will have on you. To discuss the particulars of your financial situation with a member of our legal team, please call our Raleigh offices at (919) 758-8879 today.