Will Bankruptcy Eliminate All of My Debt?
Posted By
Majed on Nov 14, 2011 7:00am PST
Whether or not bankruptcy will eliminate all of your debt depends on what type of debt you have. If your debt is made up of consumer credit card debt and other unsecured debt than it will likely all be eliminated. If your debt is secured debt, such as vehicle loans and home mortgages, whether or not your debt will be discharged will depend on whether or not you want to keep the secured item. If your debt is to the federal government, i.e. student loans and income tax payments, it may be dischargeable under a narrow set of circumstances.