• OUR 4 CHICAGOLAND BANKRUPTCY

    LAW OFFICES

FREE CONSULTATION CALL TODAY:
312-853-0200
Bill Busters
  • Home
  • About
    • OUR HISTORY
    • WHY CHOOSE OUR LAW FIRM
  • Office Locations
    • DOWNTOWN CHICAGO BANKRUPTCY
    • CHICAGO BANKRUPTCY (SOUTH SIDE)
    • CHICAGO BANKRUPTCY (NORTHWEST)
    • CHICAGO BANKRUPTCY (WEST OF CHICAGO)
    • SCHAUMBURG BANKRUPTCY
  • Bankruptcy Services
    • CHAPTER 7 BANKRUPTCY
    • CHAPTER 11 BANKRUPTCY
    • CHAPTER 13 BANKRUPTCY
    • CHICAGO PARKING TICKETS
    • FORECLOSURE LAWYERS
    • STOP CHECK GARNISHMENT
  • Bankruptcy Help
    • BANKRUPTCY FORMS
    • BANKRUPTCY FAQ’S
  • Testimonials
  • Contact Us
  • Menu Menu

Which debts cannot be discharged in a chapter 13 bankruptcy?

Bankruptcy, Chapter 13, Chicago

Filing for a chapter 13 bankruptcy in Chicago is particularly advantageous if you are in a position to pay off some of your debts. Through this option, you can work with creditors to develop a plan to pay them in installments. You may be able to save your home from foreclosure, reschedule your secured debts and lower the payments on your outstanding balances.

Your qualified debts will be discharged as long as you follow the requirements of a chapter 13 filing. Those include taking a financial management course and certifying that all payments have been made.

Despite these benefits, there are limitations to what this process can do. According to the U.S. Courts, there are several debts that will not be discharged in a chapter 13 bankruptcy, such as the following:

  •        The mortgage on your home (though a second mortgage may be eliminated)
  •        Certain taxes, especially if the debt is less than three years old
  •        Most student loans
  •        Child support or alimony payments
  •        Fines or penalties related to criminal activity or a civil lawsuit regarding certain personal injury cases, such as drunk driving

Any debts that were occurred due to fraudulent activity or other personal injury matters could be eligible for discharge. However, the U.S. Courts note that a creditor is able to file a motion to make the debt nondischargeable.

Even if you have these debts, you should recognize that a chapter 13 filing could free up money to pay them because the amount you owe to other creditors may be lowered. When you file for bankruptcy, an automatic stay is placed on all your debts, allowing you to get your finances in order.

While this information may be useful, it should not be taken as legal advice.

Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
  • Share by Mail
https://billbusters.com/wp-content/uploads/2018/09/blog-image.jpg 300 300 Isaiah Oconnor https://www.billbusters.com/wp-content/uploads/2019/01/highres-logo-billbusters-transparent-1030x412.png Isaiah Oconnor2018-09-26 05:23:422018-10-07 18:25:37Which debts cannot be discharged in a chapter 13 bankruptcy?

Office Locations

One Century Centre

Billbusters, Borges and Wu, LLC.
1750 E. Golf Road
Suite 384
Schaumburg, IL 60173

 


Downtown Chicago

Billbusters, Borges and Wu, LLC.
105 W. Madison, 23rd Floor
Chicago, IL 60602

 


Southside

Billbusters, Borges and Wu, LLC.
10708 S. Western Avenue
Chicago, IL 60643

 


South Holland

Billbusters, Borges and Wu, LLC.
900 E. 162nd Street, Suite 202
South Holland, IL 60473

 


 

Berwyn

Billbusters, Borges and Wu, LLC.
7222 W. Cermak, #715
North Riverside, IL 60546

 


 

 

Link to: Contact Us

Still Have Questions? Feel Free To E-mail Us

In certain cases, we are even able to offer a same-day bankruptcy filing with no money down – saving you time and money. Need help filing bankruptcy we can help you start.

Great feedback is always needed in order to improve and grow our bankruptcy law firm Please fill free to leave a review, let us know who your attorney was, did we provide great customer service, were we professional, did we get your the information you were looking for? We want to know.

Leave A Review

Located in Chicago, the law firm of Billbusters, Borges and Wu LLC. represents clients throughout Illinois, including, but not limited to the cities of :Alsip, Arlington, Heights, Bellwood, Berkeley, Berwyn, Blue Island, Bridgeview, Broadview, Brookfield, Burbank, Calumet City, Chicago, Chicago Heights,  Chicago Ridge, Cicero, Country Club Hills, Des Plaines, Dolton, Elk Grove Village, Elmwood Park, Evanston, Evergreen Park, Flossmoor, Forest Park, Franklin Park,  Glencoe,  Glenview, Glenwood, Golf, Hanover Park, Harvey, Harwood Heights, Hazel Crest, Hickory Hills, Hillside, Hines, Hoffman Estates, Hometown, Homewood, Justice, Kenilworth, La Grange, La Grange Park, Lansing, Lemont, Lincolnwood, Lyons, Markham, Matteson, Maywood, Melrose  Park, Midlothian, Morton Grove, Mount Prospect, Niles, Northbrook, Oak Forest, Oak  Lawn, Oak Park, Olympia Fields, Orland Park, Palatine, Palos Heights, Palos Hills, Palos  Park, Park Forest, Park Ridge,  Posen, Prospect Heights, Richton Park, River Forest, River Grove, Riverdale, Riverside, Robbins, Rolling Meadows, Schaumburg, Schiller Park, Skokie, South Holland, Steger, Stone Park, Streamwood, Summit Argo, Techny, Thornton, Tinley Park, Westchester, Western Springs, Wheeling, Willow  Springs, Wilmette, Winnetka, Worth and All of Cook County IL.

DISCLAIMER

The information contained in this website is for general information purposes only. The information is provided by Billbusters, Borges and Wu LLC and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

*For legal fee only. Other conditions apply. Please ask your attorney for details.

Hyperlocal Marketing, Inc. Digital Marketing for Lawyers

© 2019 BillBusters, Borges and Wu, LLC.

Scroll to top