Will all of my debts be discharged with bancrupcy discharge or only some?
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max1237
Apprentice
Joined: 08 Jul 2010
Posts: 1
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 Posted: 12/14/10 - 05:30 Post subject: |
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| Hello. I believe that I’ll have to declare bankruptcy soon and I’m trying to gather as many information as I can regarding bankruptcy and bankruptcy law. I am in a very hard financial position and I see no way out of it. I would like to know will all of my debts be discharged with bankruptcy discharge or only some of them? |
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bernardina
Apprentice
Joined: 10 Dec 2007
Posts: 2
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| Posted: 01/13/11 - 00:50 Post subject: |
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| I am sorry to hear that you are in a no way out situation, but this is not the time to despair, but to be strong and brave. There are many ways one can declare bankruptcy but I don’t think that it is possible to discharge one’s all debts. This is simply because you probably do have some assets and some of your debts are so called secured. It means that your creditors will be paid from some portion of your assets. |
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