Archive for the ‘Bankruptcy Attorney’ Category
The terminology of priority debt in bankruptcy refers to the debts that you should still responsible for payment even after your petition of bankruptcy is approved by the court. What are the types of debts in this category?
Most of the taxes could not be discharged in bankruptcy. In chapter 7, the debtor will enjoy debt forgiveness or discharge of his debt after liquidation of his assets. It means that if the proceed from the asset selling is not enough for to pay the debt, the rest of the debt will be discharged, except the priority debts. Bankruptcy lawyers in Greenville sc will help you to prepare your assets list properly.
This category of priority debt includes child support and/or alimony after divorce, t student loans, court fines and criminal restitution , debt arising out of personal injury caused by driving drunk or under the influence of drugs, and debt relating to money or property received by fraud. In summary, the bankruptcy law is a way out from debt problems but still considers you as respected responsible citizen who will pay important debt as listed in the priority debt.
Bankruptcy attorney in Greenville sc is the expert to support you on bankruptcy. Make sure you call them for free initial consultation. You can share your situation and they will help you determine your priority debt from your debt list, even they will help you to make this list properly.
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