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Dischargeable vs. Nondischargeable Atlanta Bankruptcy Debts

Posted by Cha'Ron Ballard on March 14, 2019

Many times, unexpected financial difficulties can cause debt to accumulate quickly. When this happens, it can be overwhelming and you may wonder what options you have. Often, the most practical option for your financial situation can be filing for bankruptcy.

A Georgia bankruptcy is designed to give you a fresh financial start and allow you to regain control of your money and recover from financial crisis. Bankruptcy can be helpful in eliminating many of your debts, but it is important to understand that some debts cannot be eliminated even with bankruptcy. In a bankruptcy, debt is separated into different categories, dischargeable debts and nondischargeable debts.

Dischargeable Debts

One category of debt in a bankruptcy is dischargeable debts. Simply put, dischargeable debts are debt obligations that are eliminated by your bankruptcy. This means that when you receive your bankruptcy discharge, you are no longer required to pay these debts. Prior creditors won’t be allowed to try to collect this debt from you any longer.

Some of the most common dischargeable debts include:

  • credit card debt
  • debt from medical bills
  • over-due utility bills
  • past due rents, and
  • personal loans

When you file for bankruptcy, any debts you had of these types at the time of filing will be discharged. It is important to note that bills incurred during your bankruptcy are not subject to discharge, so you will want to stop using your credit cards and stay on top of new bills.

Non-Dischargeable Debts

 Non-dischargeable debts are the opposite of dischargeable debts. These are debts that will not go away at the time of the discharge of your bankruptcy. You will still be responsible to creditors for these types of debts. Non-dischargeable debts include debts such as:

  • student loans
  • back child support, alimony obligations, or other family support debts
  • certain personal injury debts
  • fines from tickets or criminal debt
  • any debt incurred through fraud

As previously mentioned, debts incurred after your filing date are not dischargeable. Also, in a chapter 7 bankruptcy, certain credit card purchases made for luxury goods within 60 days before filing will not be discharged.

Get Help with Your Lawrenceville Bankruptcy

If you considering bankruptcy as an option to better your current financial situation, it is important for you to know exactly which type of bankruptcy is best for you and which of your debts would be discharged. Speaking with an excellent Lawrenceville bankruptcy attorney at The Ballard Law Group can help navigate this process. Bankruptcy can do many great things for your financial future and set you on a course to recover from what may now seem like crippling debt. Our skilled bankruptcy attorneys can help answer all of your questions regarding your case, and help you understand exactly how to proceed.

To get more information on whether bankruptcy is the solution to your financial situation, call 404-220-9906 to schedule a free initial consultation with The Ballard Law Group at either our Lawrenceville or Atlanta locations.

 

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We offer two convenient locations for appointments with our attorneys—Atlanta, GA and Lawrenceville, GA. Call us today at 404-220-9906 in Lawrenceville, GA or 404-220-9916 in Atlanta, GA or fill out the form and get started on the road to financial relief with a free initial consultation.

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The Ballard Law Group

3664 Club Drive, Suite 203 A Lawrenceville, Georgia 30044

Phone: 404-220-9906

Fax: 404-220-9907

The Ballard Law Group

3355 Lenox Road, Suite 750
Atlanta, Georgia 30326

Phone: 404-220-9916

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