Nondischargeable Debts in Chapter 7 Bankruptcy in Oregon
Everything you need to know about non-dischargeable debts in Chapter 7
Chapter 7 bankruptcy gives people a second chance by giving them a chance to get rid of their crippling debts and restore control over their finances. If you are considering filing such, you must understand what the nondischargeable debts in Chapter 7 Bankruptcy are. Non-dischargeable debts are liabilities that continue to exist after bankruptcy, so even if a person files for Chapter 7 bankruptcy, they are still responsible for paying them back.
When dealing with non-dischargeable obligations in Chapter 7 bankruptcy, an Oregon bankruptcy attorney is essential. These commitments cannot be discharged, and it takes legal professionals, just like our team at Michael D. O’Brien & Associates, P.C to assist you in navigating their complexity.
If you are facing financial difficulties and mounting debt, we can help restore you to positive financial health. Please contact Michael D. O’Brien & Associates, P.C. to discuss your options under bankruptcy law. We offer free initial case evaluations on most matters, and always provide discreet, professional legal counsel.
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is a form of bankruptcy under the United States Bankruptcy Code. It is also known as “liquidation bankruptcy” or “straight bankruptcy.” Chapter 7 is designed to provide individuals or businesses with a fresh start by liquidating their non-exempt assets to pay off their debts.
What are Nondischargeable Debts in Chapter 7 Bankruptcy?
Non-dischargeable debts in Chapter 7 bankruptcy are those that cannot be discharged or forgiven by the bankruptcy procedure, which means the debtor is still liable to pay them even after the bankruptcy is finished. Prior to filing for Chapter 7 bankruptcy, it is crucial to carefully assess one’s financial circumstances and obtain professional counsel. These debts frequently endure bankruptcy and remain recoverable against the debtor.
Most common non-dischargeable in Chapter 7 bankruptcy:
- Student Loans -Typically not dischargeable unless the debtor can show excessive hardship, which is a difficult legal bar to satisfy.
- Taxes – Recent income taxes, property taxes, and payroll taxes are only a few examples of the kinds of tax debts that are typically not dischargeable.
- Child Alimony and Support – Most of the time, alimony and child support debts are not dischargeable.
- Debts Brought on Through Dishonest Behavior – Debts that a debtor accrues by dishonest or misleading actions, such as acquiring credit by lying, may not be dischargeable.
- Debts Related to Personal Injuries or Wrongful Deaths Brought on By Drunk Driving – These debts might not be dischargeable if a debtor is held accountable for wrongful death or personal harm brought on by drunk or drugged driving.
- Debts to Specific Governmental Bodies – Fines, penalties, restitution orders, and court costs are a few examples of obligations owing to the government that are normally not dischargeable.
- Debts Caused by Intentional or Malevolent Behavior – In general, debts acquired through wilful or malevolent behavior, such as intentionally causing harm to another person or their property, are not dischargeable.
- Not Included in the Bankruptcy Schedules of Debts– A debt might not be canceled if the debtor does not list it in their bankruptcy schedules.
- Certain Housing Fees for Cooperatives or Condominiums – Common expense or assessment debts in cooperative or condominium housing organizations might not be dischargeable.
When dealing with non-dischargeable debt in Chapter 7 bankruptcy, Oregon bankruptcy attorneys are crucial. Oregon bankruptcy attorneys, like Michael D. O’Brien & Associates, P.C., have a thorough understanding of the rules and laws governing bankruptcy, including the precise standards for assessing non-dischargeability. Know more about non-dischargeable debt in Chapter 7 in Bankruptcy through the help of our Oregon bankruptcy lawyers.
Why Do I Need an Oregon Bankruptcy Attorney?
Engaging the services of a knowledgeable Oregon bankruptcy attorney becomes essential when considering Chapter 7 bankruptcy due to unmanageable debt, especially when dealing with non-chargeable debt. Their skills and knowledge can be extremely helpful in locating and managing non-chargeable debts, guaranteeing that those filing for Chapter 7 bankruptcy can get the greatest result for their financial future.
Due to their knowledge of bankruptcy laws, thorough identification of non-chargeable debts, defense against creditor challenges, maximization of debt relief, an overall reduction of stress, and peace of mind offer, bankruptcy attorneys are indispensable when dealing with non-chargeable debt in Chapter 7 bankruptcy.
Here are some reasons why it is essential to have an Oregon bankruptcy attorney:
- An individual’s financial position can be carefully examined by a bankruptcy lawyer who can also help them uncover non-dischargeable debts and provide advice on how to deal with them.
- They can defend your interests throughout the procedure, make arguments, and provide evidence to support the dischargeability of debts.
- They can help you navigate exemptions and defensive measures to safeguard your property while paying off legitimate debts.
When obtaining relief through Chapter 7 bankruptcy, a bankruptcy attorney’s skills, knowledge of bankruptcy regulations, and aptitude for navigating non-chargeable obligations are essential.
Call our Oregon Bankruptcy Lawyer Now!
Dealing with financial stress can be overwhelming mentally, physically, and emotionally. By filing Chapter 7 bankruptcy, you’d get the chance to eliminate almost all of your unsecured debts and get a fresh start. Having Oregon bankruptcy attorneys are a great asset when dealing with non-chargeable debt in Chapter 7 bankruptcy. The debtor’s prospects of obtaining a good result while defending their rights and assets can be considerably increased by their knowledge of bankruptcy rules and interactions with creditors.
Michael D. O’Brien & Associates, P.C. are reliable Oregon bankruptcy attorneys who can guide you with the non-chargeable debts in Chapter 7 bankruptcy. They also have other services like Estate Planning and Debt Alternatives.
We are skilled in navigating complicated legal procedures, identifying non-chargeable debts, and advising clients on their options, bankruptcy attorneys are an invaluable asset when dealing with non-chargeable debt in Chapter 7 bankruptcy. This ensures that the debtor’s rights and assets are protected while maximizing their chances of obtaining a favorable outcome. Reach out to our Oregon bankruptcy attorney and schedule a free consultation now!