Illinois Bankruptcy Lawyer

Other Debts in Bankruptcy

Consumer debts are the most common type of debts most people associate with bankruptcy. People tend to go bankrupt when they can no longer pay medical bills or when they have too much credit card debt. But there are other types of debt which can cause people to go bankrupt. In many bankruptcy cases, people wonder if other debts like student loans can be discharged.

At Northwest Suburban Bankruptcy in Rolling Meadows, our Illinois bankruptcy law firm helps individuals understand their financial situation during bankruptcy and the other debts that may be discharged through either Chapter 7 bankruptcy or Chapter 13 bankruptcy.

What Are the Other Debts That Can Be Discharged in Bankruptcy?

If you, like most people, have gas, water, and electricity bills to pay, you may find debt relief for utility bill debt by applying for Chapter 7 bankruptcy. Utility bill debt can also be scheduled for repayment in a Chapter 13 bankruptcy. Contact a Northwest Suburban Bankruptcy attorney to learn more about discharging or repaying a utility bill debt.

Student loan debt can be costly as everyone knows, and it is one of the main concerns people have when filing for bankruptcy. In most bankruptcy cases, student loan debt cannot be discharged in Chapter 7 bankruptcy, but it can be disbursed in Chapter 13.

IRS tax debt can be difficult to discharge in bankruptcy, but if you work with an experienced bankruptcy attorney, this type of debt may be discharged in Chapter 7 or paid off in Chapter 13.

Payday Loans, also known as payday advance loans, are considered short-term unsecured loans and can be paid off in Chapter 7 and in Chapter 13 bankruptcy.

Real Estate Tax Debt can potentially be discharged in Chapter 7 bankruptcy, but that would depend on whether or not you choose to keep your home. In many cases, real estate tax debt can be paid off in Chapter 13’s reorganization plan.

Northwest Suburban Bankruptcy realizes everyone’s financial situation is different and that there are plenty of other debts that may be of concern as it relates to bankruptcy. If you would like to learn more about other debts that can be discharged in bankruptcy, feel free to contact our office.

Schedule an Appointment with a Rolling Meadows Bankruptcy Attorney

Contact Northwest Suburban Bankruptcy in Rolling Meadows, Illinois to learn more about the other debts that can be discharged. Call our 24 hour answering service at 847-394-3200 today.