Q: I always hear bankruptcy referred to as a 'clean slate'. Does it really get rid of every debt I owe?
Only those debts that can be discharged.
Some debts can't be discharged and others can be discharged only under limited circumstances.
What you are probably referring to is the difference between a Chapter 7 and a Chapter 13.
In 7 you are done and with 13 you keep making monthly payments.
David Earl Phillips agrees with this answer
A: Most types of debts are discharged in a Chapter 7 bankruptcy. These debts are typical consumer type debts. There are certain exceptions to discharge which are set forth by statute. These include but are not limited to certain taxes, child support obligations, intentional torts, fraudulent matters, most student loans, etc. So in answer to your question Bankruptcy does not get rid of every debt you owe if you owe certain kinds of debt as set forth by statute.
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