{"id":37718,"date":"2023-07-01T03:17:34","date_gmt":"2023-07-01T10:17:34","guid":{"rendered":"https:\/\/pdxlegal.com\/?page_id=37718"},"modified":"2023-08-11T08:34:23","modified_gmt":"2023-08-11T15:34:23","slug":"discharged-debts-chapter-7-bankruptcy","status":"publish","type":"page","link":"https:\/\/pdxlegal.com\/discharged-debts-chapter-7-bankruptcy\/","title":{"rendered":"Dischargeable Debts In Chapter 7 Bankruptcy in Oregon"},"content":{"rendered":"
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What are Dischargeable Debts in Chapter 7 Bankruptcy and Why a Bankruptcy Attorney is your Best Ally?<\/h2>\n

By enabling the discharge of the majority of debts and giving people or organizations a chance to start over financially, Chapter 7 bankruptcy offers a fresh start to both individuals and businesses. The benefit of dischargeable debts in Chapter 7 bankruptcy is that people or corporations can get rid of specific obligations, relieving them of the responsibility of repayment and giving them a chance to live debt-free in the future. Knowing what the dischargeable debts In Chapter 7 bankruptcy are is an advantage as you know your options. <\/p>\n

At Michael D. O’Brien & Associates, P.C., our Oregon bankruptcy lawyers<\/a> are knowledgeable and skilled when dealing with dischargeable debts in Chapter 7 bankruptcy. They can assist people in understanding whether debts are dischargeable, determining how bankruptcy will affect their financial condition, and defending their rights at all times. <\/p>\n

Our bankruptcy lawyers can assist debtors in getting the best result possible, giving them peace of mind and facilitating a simpler path to financial recovery. Schedule a free consultation with us today!<\/p>\n

What are Dischargeable Debts in Chapter 7 Bankruptcy?<\/h2>\n

Dischargeable debts in Chapter 7 bankruptcy are those that can be discharged or forgiven after the bankruptcy process has been successfully completed. In a liquidation bankruptcy known as Chapter 7<\/a>, the debtor’s non-exempt assets are auctioned to pay creditors. However, some debts are regarded as dischargeable, which means the debtor is no longer required by law to pay them back.<\/p>\n

An order from the bankruptcy court known as a discharge <\/b>annuls the agreement between the bankrupt and their creditors. Without the contract, neither the filer nor the creditor is obligated by law to pay the discharged obligation and neither party may pursue collection efforts. The debt won’t completely vanish, though. The debt will be listed as “discharged in bankruptcy” on the bankruptcy filer’s credit record for up to ten years, albeit the impact on the debtor’s credit score will diminish over time.<\/p>\n

Oregon bankruptcy attorneys<\/a> can guarantee that a debtor’s rights are upheld throughout the bankruptcy process and assist them in identifying all debts that are eligible for discharge. They aid in compiling and arranging the required paperwork, representing the debtor’s interests in discussions with creditors and before the bankruptcy court, and arguing for the discharge of the majority of allowable obligations.<\/p>\n

What Are Common Dischargeable Debts in Chapter 7 Bankruptcy?<\/h2>\n

Certain debts may be discharged in this kind of bankruptcy, meaning they are never again due and the debtor is no longer responsible for paying them. For those looking for relief through Chapter 7 bankruptcy, understanding the list of dischargeable debts is essential.<\/p>\n

Most common dischargeable debts in Chapter 7 bankruptcy:<\/p>\n