Bankruptcy is a way for folks drowning in debt to get a FRESH START<\/a>. \u00a0The debtor \u2013\u00a0the person drowning in debt \u2013\u00a0files a petition with the U.S. Bankruptcy Court. \u00a0The Petition includes a bunch of schedules and other forms describing all the debtor’s property and debts and outlining what will happen with the various debts and property. \u00a0The trustee and the court review the documents; when everything is in order, and after the necessary waiting periods have run, the court grants an “Order of Discharge,” which wipes out the dischargeable debt, and the Debtor has a Fresh Start.<\/p>\n

Bankruptcy eliminates (discharges) most unsecured debts<\/a>, but not all. \u00a0Bankruptcy does not eliminate most debts for taxes, child and spousal support, student loans, debt resulting from malicious or willful injury, fraud, or drunk driving, criminal fines or restitution, and some recent credit purchases. \u00a0There are exceptions to every one of these classes, however, so you should review these debts carefully with your attorney to ensure all possible debts are discharged.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bankruptcy is a way for folks drowning in debt to get a FRESH START. \u00a0The debtor \u2013\u00a0the person drowning in debt \u2013\u00a0files a petition with the U.S. Bankruptcy Court. \u00a0The Petition includes a bunch of schedules and other forms describing all the debtor’s property and debts and outlining what will happen with the various debts […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":56,"menu_order":1,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-181","page","type-page","status-publish","hentry","post"],"yoast_head":"\n