Filing for Chapter 7 Bankruptcy: Why the Type of Debt You Owe Matters
When filing for Chapter 7 bankruptcy, who you owe money to matters. This is because not all debts can be discharged as part of these proceedings. To ensure that filing for bankruptcy will ultimately give you the financial fresh start that you are looking for, it is important to first take a close look at what type of debts you owe. Understanding Which Debts Can Be Discharged If your debts qualify for discharge as part of your Chapter 7 bankruptcy, you will not be held financially responsible for paying these debts once your case is concluded.