Bankruptcy Lawyer Moline, IL
A bankruptcy lawyer Moline, IL relies on from Pioletti Pioletti & Nichols knows that when you are filing for bankruptcy you will have many questions. You likely want to know what it will take to file, what the process will be like, how long it will take, and what kind of outcome you can expect. Our team is here to help you by answering these questions and working with you to file for bankruptcy. This is not the final step on your financial journey. While you may feel that you are on a bumpy road right now, filing for bankruptcy can be exactly what you need to begin rebuilding your life. To see how bankruptcy can help you and your family, give us a call now.
What kinds of debts are non-dischargeable?
Bankruptcy is not going to be the end solution to all of your financial problems. In fact, even if you are filing for Chapter 7 bankruptcy, not all of your debt will go away. Some of the non-dischargeable debts you will still need to deal with are:
- Certain types of taxes
- Child support and alimony
- Debts relating to fraud
- Debts that you forgot to list or chose not to list when you filed for bankruptcy
- Debts relating to maliciously injuring another person
Discharging Student Loans
Our Moline, Illinois bankruptcy lawyer knows that when it comes to discharging debt, you may be able to discharge your student loans, though this is not a given. They can be incredibly difficult to get rid of unless you can show that there is undue hardship because of them. This means if your student loans are directly causing you to be unable to maintain a basic standard of living, they may be discharged. When this is the case, a court may choose to discharge some of your student loan debt, though not all of it.
Other debts that you are harder to discharge are things like federal taxes. If you have debt in this category, speak with us about working with the IRS to see if an “offer in compromise” could work. This means that you still owe them a certain amount but they may accept less than what you owe.
To learn more about bankruptcy and if this is the right solution to your financial situation, contact our Moline, IL bankruptcy lawyer today.