When people think about bankruptcy, they often think of a fresh start – a way to wipe the slate clean and start over. Unfortunately, this is not always the case.
There are certain types of debt that cannot be eliminated through bankruptcy. This blog post will discuss some of these debts and provide information on what you can do if you are struggling to pay them off.
One type of debt that is not eliminated by bankruptcy is student loan debt. If you are struggling to make your student loan payments, there are a few options available to you.
For instance, you can try to negotiate a lower monthly payment with your lender or look into consolidation or refinancing your loans.
Another option is to apply for an income-driven repayment plan, which could lower your monthly payments based on your income and family size.
Another type of debt that is not discharged through bankruptcy is income tax debt. This includes any federal, state, or local taxes that you owe.
If you are unable to pay your taxes, you may be able to work out a payment plan with the IRS. However, if you owe a large amount of money, you may want to consider filing for an offer in compromise, which could reduce the amount of taxes you owe.
Child support and alimony are also not discharged through bankruptcy. If you are behind on your payments, you may be able to work out a payment plan with the other parent or spouse.
However, if you owe a large amount of money, the other parent or spouse may take legal action against you.
Finally, medical bills are not eliminated by bankruptcy. If you have unpaid medical bills, you may be able to negotiate a lower payment with your provider or set up a payment plan.
You can also look into financial assistance programs that can help cover the cost of your medical bills.
If you are struggling to pay any of these debts, it is important to seek out professional help. An experienced bankruptcy attorney can help you understand your options and make the best decision for your situation.
Contact a bankruptcy attorney today to learn more about how they can help you.
Bankruptcy can be a helpful way to get relief from overwhelming debt, but there are certain types of debt that cannot be eliminated through bankruptcy.
These include student loan debt, income tax debt, child support, alimony payments, and medical bills. If you are struggling to pay any of these debts, it is important to seek out professional help. An experienced bankruptcy attorney can help you understand your options and make the best decision for your situation.
So, if you’re struggling with debt, don’t hesitate to reach out to a bankruptcy attorney. They can help you understand your options and determine if bankruptcy is right for you.
If you’re considering bankruptcy, it’s important to speak with an experienced attorney who can guide you through the process and help you make the best decision for your future.
Dealing with bankruptcy doesn’t have to be a single-person job. The bankruptcy lawyers at Parker & DuFresne will help you determine the best course of action to help you get out from under your debt and move forward to a debt-free future.
Call today at 904-733-7766 for a free consultation, or click the button at the top of the page to schedule online.
Parker and DuFresne