Can All Of My Debts Be Eliminated By A Bankruptcy?
Can all of my debts be eliminated by a bankruptcy? Min Austria Assistant at Ascent Law LLC Bankruptcy is always a difficult decision, but it can be especially painful to consider if you're still holding on to some debt. If you're wondering whether your situation could be improved by filing for bankruptcy, there are a few questions you should ask yourself to determine whether your situation would actually get better: Are all of my debts eliminated? Bankruptcy will eliminate most of your unsecured debts, but some debts can't be erased—like student loans or child support payments. Similarly, if you have an asset that's worth less than the amount of your debt, the creditor can claim that asset to pay off the remainder. Bankruptcy will eliminate most of your unsecured debts, but some debts can't be erased—like student loans or child support payments. Similarly, if you have an asset that's worth less than the amount of your debt, the creditor can claim that asset to...