Does declaring bankruptcy clear all debts?

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asked Dec 29, 2018 in Other-Finance by Matrosity (240 points)
Does declaring bankruptcy clear all debts?

1 Answer

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answered Dec 29, 2018 by lulumeon (40,870 points)
Filing bankruptcy clears out and wipes out most debt such as medical bills, credit card debt etc but filing bankruptcy doesn't clear every debt you have and so the debt collectors could still try collecting some debts from you.

When filing for bankruptcy they should let you know exactly what debts should be wiped out and what debts you still may owe.

Only file bankruptcy as the absolute last resort because it can and will ruin your credit and make it very hard to get future loans should you need them.

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