What Debts Does Filing Bankruptcy Forgive?
Bankruptcy can be very helpful for some people. It can give them a fresh start when they have a lot of debt that they can’t pay. Unfortunately, many people have the misconception that filing bankruptcy will forgive all of their debts. However, this isn’t usually the case. This is why you should consult a bankruptcy attorney Baldwin county to find out more information about filing bankruptcy. Here’s what debts are usually forgiven.
Credit Card Debt- This debt includes both late fees and the amount that is over-due.
Medical Bills- This includes things like hospital stays and bills from doctors.
Utility Bills- Only past due utility bills are forgiven when you file for bankruptcy.
Lease Agreement Debts- This generally includes past due rent.
Revolving Charge Accounts- Almost all of these accounts can be forgiven except for charges that have an extended payment.
The debts mentioned above are some of the most common debts that can be forgiven. As you can see, you won’t be able to have all of your debts forgiven during bankruptcy. This is why you need to contact Loris Law Firm before you try to file for bankruptcy on your own.
Filing bankruptcy isn’t a decision that should be made without consulting a bankruptcy attorney Baldwin county. By contacting Loris Law Firm, you can ensure that you can find out everything you need to know about filing bankruptcy. We will talk to you about your debts and whether or not they can be forgiven. If our bankruptcy attorney Baldwin county at Loris Law Firm determines that filing bankruptcy will be beneficial in your situation, we will talk to you about what steps will be taken. We will answer any questions that you have, and we will guide you throughout the bankruptcy process.