Types of Debts in Bankruptcy There are different types of debts in bankruptcy.  Not all debts are treated the same in bankruptcy since Congress decided that certain types of debts are more important than others types of debts in bankruptcy. As a result, the way bankruptcy affects a particular debt depends on what kind of…

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Had someone send me a question about a bankruptcy to clear all debt.  What they were talking about was filing for Chapter 7 bankruptcy.  A Chapter 7 bankruptcy is designed to wipe out most if not all of your unsecured debts (debts that are not somehow tied to property).  Where a Chapter 13 bankruptcy can…

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