When debt becomes overwhelming, many people consider Chapter 7 bankruptcy as a way to regain control of their finances. One of the most common questions individuals have is: What debts will actually go away if I file? Understanding which debts can be eliminated—and which cannot—is critical before making any decisions.

At Buenaventura Koss, PLLC, our Tampa bankruptcy attorneys help individuals understand how Chapter 7 bankruptcy works in Florida and what kind of relief it may provide. While Chapter 7 can eliminate many common debts, it does not erase everything. Knowing the difference can help you plan your next steps with confidence.

What Is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy, often referred to as “liquidation bankruptcy,” is designed to eliminate unsecured debts for individuals who qualify under the means test. Once the process is complete, eligible debts are discharged, meaning you are no longer legally responsible for paying them.

One of the major benefits of Chapter 7 is that it also triggers an automatic stay, which immediately stops collection efforts such as lawsuits, wage garnishments, and bank account freezes.

Debts Chapter 7 Bankruptcy Can Eliminate

Chapter 7 bankruptcy is particularly effective at eliminating unsecured debts, which are debts not tied to specific property. Common examples include:

• Credit card debt
• Medical bills
• Payday loans
• Personal loans
• Utility bills
• Old lease obligations
• Deficiency balances from repossessions or foreclosures

For many individuals in Tampa, eliminating these debts provides immediate financial relief and allows them to focus on rebuilding their finances.

Can You Keep Your Home or Car?

Filing Chapter 7 does not automatically mean you will lose your home or vehicle. In many cases, individuals can keep important assets as long as they are current on their payments and the property is protected under Florida exemptions.

An experienced bankruptcy attorney can review your assets and explain how exemptions apply to your situation, helping you protect what matters most whenever possible.

Debts Chapter 7 Bankruptcy Typically Does Not Eliminate

While Chapter 7 provides powerful debt relief, certain obligations are generally not dischargeable, including:

• Child support and spousal support
• Most student loans
• Recent income tax debt
• Court fines and criminal restitution
• Debts incurred through fraud

Even though these debts may not be eliminated, removing other financial burdens can free up income and make it easier to manage remaining obligations.

What About Tax Debt and Student Loans?

Some tax debts may be eligible for discharge under very specific circumstances, depending on factors such as the age of the debt and whether proper tax returns were filed. Student loans are typically not dischargeable, though limited exceptions may apply in rare cases.

A detailed review of your financial situation is necessary to determine whether any exceptions apply.

Do You Qualify for Chapter 7 Bankruptcy in Florida?

Not everyone qualifies for Chapter 7. To be eligible, you must pass the means test, which evaluates your income and expenses. You’ll also need to complete a required credit counseling course before filing.

At Buenaventura Koss, PLLC, we help clients prepare for each step—reviewing income, evaluating debts, and ensuring all requirements are met before filing.

Why Legal Guidance Matters

Bankruptcy is not just about eliminating debt—it’s about making informed decisions that protect your future. Filing without proper guidance can lead to mistakes, delays, or unexpected outcomes.

Our Tampa bankruptcy attorneys take the time to explain:

• Which debts may be discharged
• Which debts will remain
• How Chapter 7 may affect your property
• Whether another bankruptcy option may be more appropriate

Speak With a Tampa Chapter 7 Bankruptcy Attorney Today

If you’re struggling with debt and wondering whether Chapter 7 bankruptcy can help, getting accurate information is the first step. Understanding what debts can be eliminated—and what can’t—allows you to make informed decisions about your financial future.

Contact Buenaventura Koss, PLLC today to schedule a consultation and learn whether Chapter 7 bankruptcy is the right solution for your situation.