There are millions of people who are struggling financially. The recent recession hit people very hard and many people have yet to recover. People have missed mortgages and could be facing foreclosure; unemployment is still a pervasive issue across Florida; medical expenses and student loans are burying people under unmanageable debt; years of relying on credit cards could now be out of control.

If you are in this situation, you must remember that you are not alone and you have options to find some relief. One such option may be Chapter 7 bankruptcy. Those who pursue this solution can have their debts discharged and make a fresh financial start. However, it is important to understand that not all debts will be wiped out.

Filing Chapter 7 bankruptcy can discharge several types of debt, but the following is a list of the financial obligations that are typically not dischargeable:

  • Student loans (there are exceptions, however)
  • Damages owed in certain types of civil claims
  • Recent taxes
  • Child or spousal support payments
  • Debts not listed or scheduled upon filing
  • Debts that have remained after previous bankruptcy proceedings

Even though these debts can still remain after filing for bankruptcy, it can be much easier to meet these financial obligations when other sources of debt are no longer factors. For example, if you have had your medical bills discharged or your credit card debts wiped out, you will be left with more money to pay down child support, court orders or student loan balances.

Chapter 7 bankruptcy is a very aggressive solution to a very serious problem; it is not right for everyone or every situation. In order to better assess your options for debt relief, it can be best to discuss your individual circumstances with an attorney.