Different Debts In A Bankruptcy Discharge

Can I discharge student loan debts in bankruptcy?

Yes, you can discharge federal student loan debt in bankruptcy. All student loan debt is dischargeable upon completion of the Chapter 7 bankruptcy process. However, there are exceptions to the discharge of student loans under Chapter 13. If you file Chapter 13 bankruptcy and your payment plan entitles you to reduce the amount of your student loan debt, then you will not be eligible to discharge those student loans in a bankruptcy.

Can I discharge my child support and alimony payments in bankruptcy?

Yes, you can discharge your child support and alimony in bankruptcy, if you have not received your monthly payments for a period of at least 90 days and you meet the qualifications for Chapter 7 bankruptcy. However, if you are in Chapter 13 bankruptcy, you will not be able to discharge your child support payments if you receive them regularly.

Are there limits to how much of my debts can be discharged in bankruptcy?

Yes, in both Chapter 7 and Chapter 13 bankruptcy, there are limits to the amount of debts that can be discharged. If you are filing Chapter 7, the amount of debts that can be discharged are limited by state law. The maximum amount of debts that can be discharged in a Chapter 7 bankruptcy is $1,081,400. The amount of debts you can discharge in a Chapter 13 bankruptcy depends on the value of your unsecured debts and your disposable income.

Do I need an attorney to represent me in a bankruptcy case?

While it is possible to represent yourself in a bankruptcy case, it is highly recommended that you have an experienced Fort Worth bankruptcy attorney on your side. This is especially true if you are considering Chapter 13 bankruptcy, as it will be necessary to create a payment plan for your bankruptcy. It is also advisable to work with an attorney if you have questions about discharging student loan debt in bankruptcy.