Can you get private debt erased if you file bankruptcy? 15 Answers as of April 05, 2011

I just received notice yesterday that I am being sued for an unpaid loan. It's a private loan, and I have a lot of credit card debt that I can't pay back. What are my options? Can you get private debt erased if you file bankruptcy?

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Financial Relief Law Center
Financial Relief Law Center | Mark Alonso
As long as the debt is not secured. If you qualify for a Chapter 7 bankruptcy you can have most, if not all of your unsecured debts wiped out. This includes private loans, as long as there is no fraud involved.
Answer Applies to: California
Replied: 4/5/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
The answer is yes, you can have that "private debt" discharged.
Answer Applies to: California
Replied: 3/25/2011
Bankruptcy Law Center
Bankruptcy Law Center | Bill Zurinskas
ANSWER: Bankruptcy attorney, Longmont, Colorado: Private debts are dischargeable in bankruptcy.
Answer Applies to: Colorado
Replied: 3/25/2011
Ferguson & Ferguson
Ferguson & Ferguson | Randy W. Ferguson
Yes. A bankruptcy can wipe out unsecured debt. You should sit down with a bankruptcy attorney who can go over all of the options you have on your case.(secure and unsecured debt) We never charge to talk to you on the phone or in our office.
Answer Applies to: Alabama
Replied: 3/25/2011
Carballo Law Offices
Carballo Law Offices | Tony E. Carballo
Yes. In fact, what you call a private debt has to be disclosed in your bankruptcy petition and discharged like any other debt. All debts must be disclosed and will be discharged unless specifically not a dischargeable debt such as child support, fines an most student loans.
Answer Applies to: California
Replied: 3/24/2011
    Law Office of L. Paul Zahn
    Law Office of L. Paul Zahn | Paul Zahn
    A personal loan is no different than any other unsecured debt. It is dischargeable in bankruptcy. Please contact me for a free consultation.
    Answer Applies to: California
    Replied: 3/24/2011
    Law Offices of Michael J. Berger
    Law Offices of Michael J. Berger | Michael J. Berger
    Yes, in general private debt can be discharged (erased) if you file bankruptcy. The only exceptions to this rule are set forth in 11 U.S.C. Section 523 Exceptions to Discharge. A typical private loan, and typical credit card debt, if not obtained by fraud or the use of a false financial statement, and not obtained shortly before filing bankruptcy, can be discharged in bankruptcy. For specific advice that takes into account the specific facts of your situation, please call me for a free consultation.
    Answer Applies to: California
    Replied: 3/24/2011
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    I don't know what a "private debt" is, but as long as it doesn't fall within one of the excepted categories from discharge (such as taxes, debts incurred through fraud, domestic support obligations, student loans and a few others, it should be dischargeable.
    Answer Applies to: California
    Replied: 3/24/2011
    Greifendorff Law Offices, PC
    Greifendorff Law Offices, PC | Christine Wilton
    Yes, you can eliminate this private debt, depending upon what the debt was incurred for. Student loans, most taxes and domestic support obligations are generally not dischargeable. Get the advice of an attorney.
    Answer Applies to: California
    Replied: 3/24/2011
    Law Office of Harry L Styron
    Law Office of Harry L Styron | Harry L Styron
    Yes, all unsecured debt is discharged in a bankruptcy, regardless of who is the creditor. You should discuss your situation with a bankruptcy attorney promptly, as you usually have only 30 days to respond to a lawsuit.
    Answer Applies to: California
    Replied: 3/24/2011
    Law Offices of Joseph A. Mannis
    Law Offices of Joseph A. Mannis | Todd Mannis
    Absolutely. As long as it is not a non-dischargeable debt such as taxes or student loans, it gets wiped out like any other debt. Should you have further questions, please feel free to contact me or set up a free consultation.
    Answer Applies to: California
    Replied: 3/24/2011
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