Bankruptcy Protection: Discharge of Debts Explained
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Bankruptcy protection provides consumers with a way to start over again financially through a complete or partial discharge of debts or a reorganization of debts. For many consumers the most critical consideration is finding out exactly what types of debts can be discharged in a Chapter 7 or Chapter 13 bankruptcy. Individual financial circumstances and state-specific bankruptcy regulations will determine exactly what debts can be discharged and by whom in a bankruptcy, but for the most part these debts include: taxes, mortgages and equity lines of credit, loans, medical bills, and credit cards.Source: http://ezinearticles.com/6387724
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