Your Debts in Chapter 7 Bankruptcy

Debt Discharge in Bankruptcy: Nondischargeable Debts

Debtors can eliminate or “discharge” many debt types in Chapters 7 and 13, including credit card balances, personal loans, and utility bills. However, bankruptcy doesn’t discharge obligations known as "nondischargeable" debts.

Priority Claims in Chapter 7 Bankruptcy

When you file for Chapter 7 bankruptcy, not all creditors are treated equally. Bankruptcy law sets out the order in which creditors are paid and gives certain claims priority over others. These are referred to as priority claims.

What Happens to My Cosigner in Chapter 7 Bankruptcy?

Chapter 7 bankruptcy discharges most unsecured debts. However, despite your bankruptcy filing, if you have a cosigner on your debts, your cosigner will still be responsible for it after your Chapter 7 case. Learn why.

Are Unsecured, Nonpriority Debts (Schedule F Claims) Discharged in Chapter 7 Bankruptcy?

Find out how unsecured nonpriority debts are treated in Chapter 7 bankruptcy.

Should You Reaffirm Secured Debt in Chapter 7 Bankruptcy?

A reaffirmation agreement helps you keep a financed car after a Chapter 7 bankruptcy. Learn what to do when you owe a secured debt, such as a car loan, that will be erased in bankruptcy, and you want to keep the property serving as collateral.

What to Expect at a Chapter 7 Reaffirmation Hearing

A Chapter 7 reaffirmation contract makes you personally liable for an obligation eliminated in bankruptcy. Many debtors reaffirm secured debts like car loans to protect against losing the vehicle after bankruptcy.

Secured vs Unsecured Debt in Chapter 7 Bankruptcy

What happens to your debts in Chapter 7 bankruptcy depends on whether they are secured or unsecured.

Unsecured Debt: Priority vs. Non-Priority

Not all unsecured debt is treated equally in bankruptcy. Find out which debts jump the line for payment and which ones get wiped out.

The Truth About "Pay Day" Loans and Filing for Bankruptcy

Payday loans, cash advances, check advances, or paycheck advances are short-term loans offered at a high interest rate. Learn when it's possible to eliminate payday loans in bankruptcy.

Wiping Out Government Fines and Tickets in Bankruptcy

If you owe fines, tickets, tolls, or penalties to the government, find out which ones Chapter 7 or Chapter 13 bankruptcy can erase, and which will still follow you.

What Happens to Your Timeshare and Timeshare Debt in Bankruptcy?

Find out what happens to a timeshare mortgage and related debts in bankruptcy and why it will depend on the timeshare type, its value, and whether you file for Chapter 7 or Chapter 13 bankruptcy.

Will Bankruptcy Stop the IRS From Collecting Tax Debts?

The automatic stay will stop the IRS from collecting taxes debt that you owe once you file a Chapter 7 or Chapter 13 bankruptcy. But depending upon the nature of the tax debt you owe, the IRS may be permitted to collect from you later.

Will Chapter 7 Bankruptcy Stop an Eviction?

Filing for bankruptcy may pause your eviction, but not always. Find out when the automatic stay protects you and when your landlord can still move forward.

What Happens to Liens in Chapter 7 Bankruptcy?

A creditor with a lien has rights against the property securing your obligation to pay the money you owe. Learn what happens to liens and secured property in Chapter 7 bankruptcy.

What Happens to a Car Lease in Chapter 7 Bankruptcy?

What happens to your car lease in Chapter 7 bankruptcy depends on whether you are behind on your payments and on what the bankruptcy trustee decides to do with the lease.

Will My Debt Get Discharged If I Forget To List it in My Chapter 7 Bankruptcy?

Whether a Chapter 7 discharge will erase unlisted debt will depend on whether the Chapter 7 bankruptcy trustee distributes money to your creditors and the discharge rules where you file the case.

What Debts Should I Continue to Pay During My Chapter 7 Bankruptcy Case?

A Chapter 7 bankruptcy "discharges" or eliminates eligible debts you owe when filing your bankruptcy petition. Learn why you'll remain responsible for obligations incurred after filing.

What to Expect at a Chapter 7 Reaffirmation Hearing

A Chapter 7 reaffirmation contract makes you personally liable for an obligation eliminated in bankruptcy. Many debtors reaffirm secured debts like car loans to protect against losing the vehicle after bankruptcy.

What Happens to My Cosigner in Chapter 7 Bankruptcy?

Chapter 7 bankruptcy discharges most unsecured debts. However, despite your bankruptcy filing, if you have a cosigner on your debts, your cosigner will still be responsible for it after your Chapter 7 case. Learn why.

Priority Claims in Chapter 7 Bankruptcy

When you file for Chapter 7 bankruptcy, not all creditors are treated equally. Bankruptcy law sets out the order in which creditors are paid and gives certain claims priority over others. These are referred to as priority claims.