Jacksonville Debt Discharge Lawyer

When exploring bankruptcy as an option for dealing with a financial situation, it is important to know what types of debts can be discharged in bankruptcy and what types of exemptions there are that may allow you to keep homes and property. A knowledgeable bankruptcy attorney can review your case and advise you of how bankruptcy may help you discharge debts.

We at the Jacksonville, Florida, law firm of Sacks & Sacks, P.A., focus our attention on handling Chapter 7 bankruptcy, Chapter 13 bankruptcy and other bankruptcy-related issues. A lawyer at our firm can meet with you, review your situation and recommend the proper course of action for seeking the dismissal of your debts.

Secured Versus Unsecured Debt

There are two different types of debt that can be accumulated by an individual, couple, family, business or other entity.

  • Secured debt: Any type of debt that is secured by some type of collateral, such as a car loan that is guaranteed by the vehicle or a mortgage that is guaranteed by the home, is considered secured debt. In some cases, secured debt may be dischargeable in bankruptcy. However, it may be most difficult to have secured debts discharged. If you wish to keep the property, such as a house or a car, payments must be maintained after bankruptcy is filed. If you are willing to give up the property, you may not be obligated to repay the amount that was borrowed on the intent that the property would be purchased.
  • Unsecured debt: Debts that are not secured with collateral are considered unsecured. Bankruptcy provides for the discharge of most types of unsecured debt, includingmedical bills and credit card bills. Once unsecured debt is discharged in bankruptcy, collection agencies and creditors may no longer contact you regarding the debt, as you legally do not owe the money.

What Debts Can Bankruptcy Get Rid Of?

There are a number of types of unsecured debts that may be discharged in bankruptcy. These may include: Unsecured debts that usually can be discharged in a Chapter 7 bankruptcy may include:

  • Medical bills
  • Credit card bills
  • Payday loans
  • Unsecured credit lines
  • Unsecured personal loans
  • Debts associated with repossessed vehicles
  • Past due utilities
  • Certain income taxes
  • Debts owed to landlords or prior landlords

There are debts that may not be discharged, such as child support arrears, student loans and most types of taxes.

Contact a Jacksonville Bankruptcy Discharge Lawyer

To further discuss bankruptcy exemptions, secured debt, unsecured debt or other bankruptcy issues, call 904-399-0970 or simply contact us online to schedule your free initial consultation with one of our Florida bankruptcy attorneys.