Unsecured debt can be discharged in Chapter 7 bankruptcy or modified under Chapter 13. Secured debt cannot be completely eliminated, but it can often be modified or reduced, depending on the type and value of the secured assets. Tax debts can be eliminated or modified. Unsecured, or dischargeable debt, is any of the following:
Credit card debt
Divorce debt (properly utilized, Chapter 13 can sometimes be used to alter unpayable divorce decrees)
Foreclosure deficiencies
Tax debt (if old enough under several factors)
Medical debt
Gambling debt
Co-signed and joint debts
Repossession deficiencies
Pay day loan debt
Personal loans
Business debt
Personal guarantees
