What Bankruptcy Can and Cannot Do
Nolo, November, 2006
Bankruptcy is good at wiping out credit card debt, but you may have trouble eliminating some other kinds of debts, including child support, alimony, most tax debts, student loans, and secured debts. What Bankruptcy Can Do If you are facing serious debt problems, bankruptcy may offer a powerful remedy.
Here are some of the things filing for bankruptcy can do: Wipe out credit card debt and other unsecured debts. If you file for Chapter 13 rather than Chapter 7, you may have to pay back some portion of your unsecured debts. However, any unsecured debts that remain once your repayment plan is complete will be discharged. Stop creditor harassment and collection activities. Bankruptcy can stop creditor harassment, but if the "harassment"' is simply phone calls and letters, there...
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