Can I Discharge All My Debt in Bankruptcy?

Eliminating Debts You Cannot Afford to Pay

Bankruptcy is an opportunity to permanently eliminate debts you cannot afford to pay. In many cases, people who file bankruptcy are able to completely wipe out all of their debts and make a total fresh start. At the Arizona Bankruptcy Center, our attorneys have extensive experience working on behalf of our individual, family and business clients facing the challenges of overwhelming debt. We will take the time to review your assets, debts and income to determine whether you can discharge all your debt in bankruptcy.

Understanding What Types of Debts Are Dischargeable

Most unsecured debts — meaning debts that are not backed by specific assets — can be discharged in bankruptcy. This includes credit card debts, lawsuit judgments and medical bills. Secured debts — such as home and car loans — can be discharged only if you are prepared to give up those assets. However, arrearages — late or missed payments — on secured debts can be made up in bankruptcy.

In Chapter 7 bankruptcy, you should be able to eliminate dischargeable debts within a few months. In Chapter 13 bankruptcy, your debts will be discharged once you complete a three- to five-year partial repayment plan, paying only what you can reasonably afford. Certain types of debts cannot be discharged, including taxes, student loan debts, child support and debts accrued after filing.

Contact Our Arizona Debt Relief Lawyers for a Free Consultation

If you have questions or are ready for a fresh financial start, contact our firm by calling us toll free at 866-780-4855. You can also submit a question or arrange a free consultation by e-mailing us directly from our website.