What is a bankruptcy discharge and what debts can be discharged?

A bankruptcy discharge is a court order that releases a debtor from personal liability for certain types of debts. This means that the debtor is no longer legally required to pay back the debts that have been discharged.

Types of debts that can be discharged:

1. Credit card debt
2. Medical bills
3. Personal loans
4. Utility bills
5. Some taxes
6. Business debts
7. Civil court judgments (except for fraud or intentional wrongdoing)

Bankruptcy process:

When an individual files for bankruptcy, they must go through a legal process that involves disclosing all of their assets, liabilities, income, and expenses to the court. Once the court approves the bankruptcy filing, a trustee is appointed to oversee the case and ensure that the debtor's assets are fairly distributed to creditors.

Financial relief:

Filing for bankruptcy can provide relief from overwhelming debt by eliminating certain financial obligations. It offers a fresh start for individuals who are struggling to pay off their debts and can help them regain control of their finances.