A dischargeable claim refers to a claim that can be eliminated or erased by filing for bankruptcy, relieving the debtor of the responsibility to repay the debt.
A dischargeable claim refers to a claim that can be eliminated or forgiven through the process of bankruptcy. This means that the debtor is no longer legally obligated to repay the debt. Examples of dischargeable claims include credit card debt, medical bills, personal loans, and past-due rent payments. For instance, if an individual files for bankruptcy and has $10,000 in credit card debt, that debt may be considered a dischargeable claim. Once the bankruptcy process is finalized, the debtor will no longer be held responsible for repaying that particular debt. It is important to note that not all debts can be discharged through bankruptcy. Student loans and certain tax debts, for example, are typically not eligible for discharge.
A dischargeable claim is a debt that can be eliminated through bankruptcy.
Most unsecured debts, such as credit card debt, medical bills, and personal loans, are dischargeable.
No, some debts are not dischargeable, such as student loans, taxes, and child support payments.
You should consult with a bankruptcy attorney to determine which of your debts are dischargeable.
No, you cannot selectively discharge certain debts. All eligible debts will be discharged or none at all.
Yes, filing for bankruptcy will negatively impact your credit score.
The length of time it takes to discharge a claim depends on the type of bankruptcy you file and the complexity of your case.
Yes, a creditor can object to the discharge of a claim if they believe the debt was incurred fraudulently or maliciously.
Yes, you can still discharge a claim even if you have been sued for it.
Yes, you can still discharge a claim even if you have made payments on it.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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