Learn about the debts that can be discharged in Chapter 7 bankruptcy, including credit card debt, medical bills, and more. Find out what cannot be discharged.

Plus, 403 (b) loans also qualify for discharge under both a Chapter 7 and a Chapter 13 bankruptcy. Which debts are not discharged in bankruptcy?

Which type of bankruptcy clears all debt? Before you start weighing your options, it's important to understand that no type of bankruptcy will eliminate every single debt you owe.

That’s because filing for Chapter 7 requires a trade-off: You receive a discharge of qualifying debts in exchange for surrendering some of your assets.

Chapter 7 allows you to discharge your debts by selling non-exempt assets, whereas Chapter 13 discharges debts by creating a repayment plan and paying the debts off over three to five years.

This type of bankruptcy is often referred to as liquidation bankruptcy because it allows filers to discharge most unsecured debts in exchange for surrendering certain non-essential assets.

Learn how much debt you need to file Chapter 7 bankruptcy, eligibility criteria and the impact on your financial future. Get informed before deciding.

Florida-based CMX Cinemas, operating 16 theaters, filed for Chapter 11 bankruptcy protection. The company aims to restructure its finances and reduce debt while continuing operations.

Chapter 7 (Liquidation Bankruptcy): This type of bankruptcy allows you to eliminate most unsecured debts, such as credit card balances and medical bills, without requiring repayment.

Companies that reorganize under Subchapter V of Chapter 11, reserved for smaller debtors, are blocked from discharging debts stemming from willful or malicious injury, a third federal appeals court ...

Chapter 7 or Chapter 13 may discharge or reorganize your credit card debt. Some debts may not be cleared in bankruptcy, such as nondischargeable obligations, recent luxury purchases or fraudulent ...