{"id":59598,"date":"2023-06-27T18:35:23","date_gmt":"2023-06-27T18:35:23","guid":{"rendered":"https:\/\/millermillerlaw.com\/?page_id=59598"},"modified":"2023-09-05T06:10:26","modified_gmt":"2023-09-05T06:10:26","slug":"discharged-debts-chapter-7-bankruptcy","status":"publish","type":"page","link":"https:\/\/millermillerlaw.com\/bankruptcy\/discharged-debts-chapter-7-bankruptcy\/","title":{"rendered":"Dischargeable Debts in Chapter 7 Bankruptcy in Wisconsin"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">Are Dischargeable Debts in Chapter 7 Bankruptcy Leaving You Confused? Let Us Help You!<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Declaring bankruptcy, despite its initial challenges, often acts as a financial reset button for many individuals. Key to this process is understanding the potential advantages, one of which is the concept of dischargeable debts in Chapter 7 bankruptcy in Wisconsin. This knowledge equips individuals with insights about the legal protection from creditors, debt reduction, and opportunities for financial reconstruction that Chapter 7 bankruptcy offers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While the road to financial recovery can be complex, the <\/span><a href=\"https:\/\/millermillerlaw.com\/\"><span style=\"font-weight: 400;\">bankruptcy attorneys<\/span><\/a><span style=\"font-weight: 400;\"> at Miller &amp; Miller Law, LLC, stands ready to help. For a free case evaluation and to learn more about how our attorneys can help you navigate the complexities of bankruptcy, reach out to us today. Your path to financial recovery starts here.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What is there to Know About Dischargeable Debts in Chapter 7 Bankruptcy?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Chapter 7 bankruptcy, often referred to as liquidation bankruptcy, is a legal avenue that enables individuals and businesses to eliminate most of their debts and embark on a fresh financial journey. This option is often accessible to individuals who meet certain income criteria and who lack the means to settle their debts through a repayment plan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An integral part of this process involves the concept of dischargeable debts. These are specific debts that can be absolved or dismissed under bankruptcy laws, providing the debtor with a new financial start. Through a legal mechanism known as a discharge, debtors are relieved from the personal liability of certain debts in a Chapter 7 bankruptcy. However, it&#8217;s essential to understand that not all debts are dischargeable.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Common categories of dischargeable debts often include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Credit card debt<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In most cases, Chapter 7 bankruptcy allows you to erase unsecured debt like credit card debt<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Medical bills<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Unpaid medical debt can generally be discharged under Chapter 7 bankruptcy.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Personal loans<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Unsecured personal loans are typically dischargeable in most Chapter 7 bankruptcy cases.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Utility bills<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In Chapter 7 bankruptcy, unpaid utility bills, such as those for electricity or water, may be discharged.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Salary loans<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Unsecured payday loans are commonly dischargeable under Chapter 7 bankruptcy.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><span style=\"font-weight: 400;\">Several civil judgments<\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">You may be eligible for a discharge under Chapter 7 bankruptcy if you have civil judgments against you for damages originating from auto accidents or other comparable events.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Understanding and managing dischargeable debts in Chapter 7 bankruptcy can be complicated. This is where the experience of Miller &amp; Miller, LLC, Wisconsin bankruptcy attorneys, proves invaluable. They provide essential guidance, ensuring your bankruptcy filing is effective and accurate, thus increasing your chances of successful debt discharge.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What are the Exceptions to Dischargeable Debts in Chapter 7 Bankruptcy?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Dischargeable debts are those that can be absolved or &#8220;discharged&#8221; during a Chapter 7 bankruptcy process. Although common categories like credit card debt and medical costs are widely recognized, here are some important exceptions and less well-known facts about dischargeable debts in Chapter 7 bankruptcy:<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Student Loans:<\/strong> Typically, student loans are not dischargeable in bankruptcy, including Chapter 7. Only in rare circumstances, when the debtor can demonstrate undue hardship\u2014a process that often requires a high standard of proof\u2014may student loans be discharged.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Income Taxes:<\/strong> Under certain conditions, income taxes can be discharged in Chapter 7 bankruptcy. For this to occur, the tax debt must be at least three years old, the tax return must have been filed at least two years prior to filing for bankruptcy, and the taxes must have been assessed at least 240 days before filing bankruptcy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Alimony and Child Support:<\/strong> In most instances, alimony and child support obligations cannot be discharged in bankruptcy. Therefore, even after filing for bankruptcy, you will still be liable for these debts as Chapter 7 does not absolve them.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Luxury Purchases:<\/strong> Debts stemming from luxury purchases exceeding a specific amount made within 90 days prior to declaring bankruptcy may not be dischargeable. For the most current threshold amount, consulting with a bankruptcy attorney is crucial.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the nuances surrounding dischargeable debts in Chapter 7 bankruptcy, legal counsel is vital. Contact Miller &amp; Miller, LLC today for specific advice.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Can Secured Debts Be Discharged in Chapter 7 Bankruptcy?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Secured debts, those tied to an asset such as a home or vehicle, can be discharged in Chapter 7 bankruptcy. However, you&#8217;ll likely have to forfeit the asset serving as collateral. Why is this? It&#8217;s because bankruptcy does not erase the attached lien, and thus, the creditor retains the right to reclaim the asset if the debt is unpaid. This means you could discharge a mortgage or car loan, but the house or car would likely have to be surrendered.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you&#8217;re willing to part with the secured asset, it could be beneficial for you to allow the creditor to repossess it. Your intention to surrender the asset should be indicated in your bankruptcy documentation. You&#8217;re not obligated to physically hand over the asset to the creditor, but cooperation is required during the repossession process. In some cases, creditors might not pursue repossession of smaller items due to the costs involved.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In rare circumstances, if the creditor neglected to secure their interest in the property, you might retain possession. Suppose, for example, an automobile dealer overlooked securing a lien on your car, and its value falls within the exemption limit for vehicles. In such cases, the claim becomes unsecured, enabling you to retain the car as exempt property. However, bear in mind that such situations are rare, and you would need to safeguard the entire car value with a bankruptcy exemption. If you cannot, the appointed Chapter 7 trustee may sell the car, reimburse you with your exemption value, and utilize the rest to pay back creditors. Explore more about retaining a car through a Chapter 7 bankruptcy process.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Why Do I Need a Wisconsin Bankruptcy Attorney like Miller &amp; Miller, LLC?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Filing for Chapter 7 bankruptcy requires careful navigation through intricate legal processes and attention to the accuracy of required documentation. For individuals or corporations aiming to discharge their debts and initiate a financial fresh start, the guidance of Miller &amp; Miller, LLC can prove invaluable.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here&#8217;s how our legal team can help:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Knowledge of Bankruptcy Laws: The team at Miller &amp; Miller, LLC is adept at managing complex paperwork, adhering to strict deadlines, interpreting nuanced bankruptcy rules, and guiding you through court procedures.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Advocacy During Filing Process: As your representatives, Miller &amp; Miller, LLC defends your rights, advocates for you in court, and handles communications with creditors, ensuring you receive fair treatment and legal protection.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Asset Preservation Assistance: By identifying and applying exemptions, our bankruptcy attorneys can work towards protecting your valuable assets from liquidation during a Chapter 7 bankruptcy. We also provide guidance and support in resolving any arising issues or disputes.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><br \/>\nChoosing Miller &amp; Miller, LLC as your legal counsel can enhance the success of your Chapter 7 bankruptcy filing. We uphold your rights, handle intricate legal matters, and guide you toward a favorable outcome and a fresh financial start.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Call our Wisconsin Bankruptcy Lawyers Now!<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Navigating the complexities of Chapter 7 bankruptcy cases, especially those involving dischargeable debt, demands the support of experienced bankruptcy attorneys. Armed with a thorough understanding of intricate bankruptcy rules and regulations, our attorneys at Miller &amp; Miller Law, LLC can guide you smoothly through the entire process.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We offer a comprehensive range of services including <\/span><a href=\"https:\/\/millermillerlaw.com\/bankruptcy\/when-to-file-bankruptcy\/\"><span style=\"font-weight: 400;\">filing bankruptcy<\/span><\/a><span style=\"font-weight: 400;\">, conducting a free case evaluation, and addressing <\/span><a href=\"https:\/\/millermillerlaw.com\/bankruptcy\/divorce-bankruptcy\/\"><span style=\"font-weight: 400;\">other bankruptcy concerns<\/span><\/a><span style=\"font-weight: 400;\">. We don&#8217;t just stop at bankruptcy law. Miller &amp; Miller Law, LLC also extends its legal skills to areas such as <\/span><a href=\"https:\/\/milwaukeeimmigrationlawyer.com\/\"><span style=\"font-weight: 400;\">Immigration<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/millermillerlaw.com\/worker-s-compensation\/\"><span style=\"font-weight: 400;\">Worker\u2019s Compensation<\/span><\/a><span style=\"font-weight: 400;\">, and <\/span><a href=\"https:\/\/millermillerlaw.com\/civil-litigation\/\"><span style=\"font-weight: 400;\">Civil Litigation<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Our team can help determine your <\/span><a href=\"https:\/\/millermillerlaw.com\/bankruptcy\/chapter-7-bankruptcy-eligibility\/\"><span style=\"font-weight: 400;\">eligibility for Chapter 7<\/span><\/a><span style=\"font-weight: 400;\">, identify dischargeable debts, and ensure all necessary documentation is correctly completed and filed. We&#8217;re your advocates in <\/span><a href=\"https:\/\/millermillerlaw.com\/bankruptcy\/meeting-of-creditors\/\"><span style=\"font-weight: 400;\">meetings with creditors<\/span><\/a><span style=\"font-weight: 400;\"> and the bankruptcy court, staunchly representing your interests and rights.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Don&#8217;t let the intricacies of bankruptcy law overwhelm you. Maximize the discharge of your obligations and embark on a new financial journey with confidence. Contact Miller &amp; Miller Law, LLC today for a free case evaluation, and let us help you navigate your Chapter 7 bankruptcy case.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are Dischargeable Debts in Chapter 7 Bankruptcy Leaving You Confused? Let Us Help You! Declaring bankruptcy, despite its initial challenges, often acts as a financial reset button for many individuals. Key to this process is understanding the potential advantages, one of which is the concept of dischargeable debts in Chapter 7 bankruptcy in Wisconsin. This [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":57875,"parent":46160,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"_links":{"self":[{"href":"https:\/\/millermillerlaw.com\/wp-json\/wp\/v2\/pages\/59598"}],"collection":[{"href":"https:\/\/millermillerlaw.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/millermillerlaw.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/millermillerlaw.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/millermillerlaw.com\/wp-json\/wp\/v2\/comments?post=59598"}],"version-history":[{"count":3,"href":"https:\/\/millermillerlaw.com\/wp-json\/wp\/v2\/pages\/59598\/revisions"}],"predecessor-version":[{"id":59739,"href":"https:\/\/millermillerlaw.com\/wp-json\/wp\/v2\/pages\/59598\/revisions\/59739"}],"up":[{"embeddable":true,"href":"https:\/\/millermillerlaw.com\/wp-json\/wp\/v2\/pages\/46160"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/millermillerlaw.com\/wp-json\/wp\/v2\/media\/57875"}],"wp:attachment":[{"href":"https:\/\/millermillerlaw.com\/wp-json\/wp\/v2\/media?parent=59598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}