The goal of filing bankruptcy is to obtain a discharge of your debts. You can obtain a discharge by filing a Chapter 7 Petition if you have either never filed a previous Chapter 7 Petition or if more than eight years has passed from the date that you previously filed a Chapter 7 Bankruptcy Petition and obtained a discharge. If you are seeking a discharge in a Chapter 13 case, more than four years must have passed from the date that you filed a Chapter 13 Petition and obtained a discharge.
You must also determine if the debts that you owe can be discharged by filing a bankruptcy petition. Certain types of debts, such as child support obligations, cannot be discharged. Other types of debts, such as student loans, can only be discharged under limited circumstances. Please consult with William Buchanan to determine if you have the types of debts that can be discharged.
In a bankruptcy, you can discharge your personal obligation to pay debts that are secured by a real estate or personal property (such as a vehicle). However, the creditor usually retains its lien against your property. Unless you want to surrender the property, you may have to agree that the debt will not be discharged in bankruptcy.