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What debts can be discharged in bankruptcy?

Filing for bankruptcy is a chance at a fresh financial start. As part of the process, certain debts are discharged so the person who’s filing can get rid of their obligations without struggling to pay them for any number of years.

Anyone who’s considering this option should know that there are limitations to what can be discharged. For example, child support arrears can’t be discharged. All of the following are generally considered dischargeable in Florida.

Unsecured credit card debt

Unsecured credit card debt is one of the most common types of debt that individuals seek to discharge through bankruptcy in Florida. This kind of debt doesn’t require collateral, so credit card companies don’t have physical assets to claim if the debt goes unpaid. Charges for luxury goods or services made within 90 days before filing may not be eligible for discharge under the presumption of fraud.

Medical bills

Another significant type of debt that can be discharged in a Florida bankruptcy is medical debt. With health care costs continuing to rise, many individuals can’t keep up with exorbitant medical bills. Bankruptcy offers a solution to this overwhelming financial burden.

Personal loans and payday loans

Personal and payday loans are unsecured debts that can also be discharged in a Florida bankruptcy. These include debts from friends or family members, as well as loans from financial institutions or payday lenders. Since property doesn’t secure these debts, they can be completely eliminated in bankruptcy.

Past-due rent and lease agreements

Filing for bankruptcy in Florida can also discharge debts related to past-due rent and lease agreements. If someone is facing eviction or has already moved out and owes money for the remainder of a lease or months they didn’t pay, bankruptcy may relieve them of this financial obligation. However, discharging this type of debt through bankruptcy will not necessarily allow them to stay in the rental if the landlord is seeking to evict for non-payment.

Utility bills

Utility bills, such as those for electricity, water and gas, can accumulate into significant debts over time. Filing for bankruptcy in Florida allows individuals to discharge these debts, preventing utility companies from seeking repayment for past due amounts.

Discharging debt through bankruptcy in Florida can provide a path to financial freedom for many struggling with overwhelming financial obligations. It’s important for individuals considering bankruptcy to consult with a legal representative to understand fully which of their unique debts can be discharged and how to maximize the benefits of this process.