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Which debts can't be discharged in bankruptcy? : vimarsana.c
Which debts can't be discharged in bankruptcy? : vimarsana.c
Which debts can't be discharged in bankruptcy?
Which debts can’t be discharged in bankruptcy?
Bankrate
1/7/2021
© Phynart Studio/E+/Getty Images
Phynart Studio/E+/Getty Images
We've talked before about bankruptcy in this column, but this week I'd like to simplify things a bit and discuss more specifically the debts that can and cannot be discharged in bankruptcy.
© Phynart Studio/E+/Getty Images
Couple managing finances
Can credit card debt be discharged?
Like all debt, when it comes to bankruptcy it depends on which chapter you file under. Chapter 7 will discharge credit card debt almost immediately. Chapter 13 will reorganize your debts (likely including your credit card debt), so that at least a portion of that debt will be repaid over time. Once you have repaid the portion of your debts required by the court and based on your income and expenses, the remainder is discharged.
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