New York Bankruptcy Law
FANNING & HUGHES: New York Bankruptcy Law Firm
If you are suffering under the burden of debt, an experienced New York bankruptcy lawyer from Fanning and Hughes can give you a fresh financial start. The New York bankruptcy lawyers at Fanning and Hughes can help you file for bankruptcy under Chapter 7 or Chapter 13.
What types of debts are discharged in Bankruptcy? What types are not?
Most unsecured debts are discharged in a Chapter 7 proceeding. These include credit cards, medical bills, personal loans, utility bills, unpaid rent, and some others.
You can discharge your secured debts also, such as financing on your car, if you are willing to surrender the property to the creditor. Otherwise, you must continue to make payments to those creditors.
The following need to be addressed on a case by case basis:
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Taxes. A complicated analysis determines whether taxes are dischargeable. Many taxes can be discharged.
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Student loans. In order to discharge student loans, you must show that payment would result in an undue hardship, which is a high standard. Student loans are generally not dischargeable.
The following are generally not discharged in Chapter 7, although some may be in Chapter 13:
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Debts incurred through false pretenses, fraud or false financial statements
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Creditors not listed in the bankruptcy
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Debts incurred through fraud as a fiduciary, embezzlement or larceny
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Alimony, Maintenance and Support payable to a spouse, former spouse or child
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Debts stemming from willful or malicious injury
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Fines or restitution (to the court or victim) imposed in a criminal-type proceeding
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Debts resulting from intoxicated driving
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We are a federally designated debt relief agency helping people for relief under the bankruptcy code.
FANNING & HUGHES, PLLC
108-18 Queens Blvd -
4th Floor
Forest Hills, NY 11375
718.261.3290 p
718.228.2422 f
contact@FHLawOffice.com
