When your case is filed, a Chapter 7 bankruptcy, you retain control of all property that is exempt. You eliminate liability for many types of debts. The debts are discharged. Generally, the following debts are discharged: credit cards, store cards, medical and dental bills, unsecured personal loans, certain taxes.
This is just a broad overview. There are other types of debts that may be able to be discharged. A good bankruptcy lawyer will review your debts with you and advise what debts may not be discharged at the end of the case. Pre-bankruptcy planning is essential to maximize the benefits of filing bankruptcy.
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If you have questions about filing for Chapter 7 bankruptcy, we are here for you. Contact us today online or by telephone at (888) 910-6652 to schedule your free initial consultation with an experienced Los Angeles area bankruptcy lawyer.