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Does Bankruptcy Relieve Me of All My Outstanding Debts?

Posted on 10/6/16 3:14 PM

Filing for bankruptcy is not something to be taken lightly, it's intended to help those that have found themselves in financial trouble. The idea is to give an individual the opportunity to have a fresh start, thus allowing them to become financially sound once again.

As a debtor considering bankruptcy, there's no doubt you have many questions about the process and how it will affect you. One of the most common questions is: does bankruptcy relieve me of all debts? The simple answer is that no, not all of your debts will be relieved. Debt dismissal really depends upon the type of debts you have and when they were incurred.

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Tags: Debts in Bankruptcy

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