Roland files for Chapter 7 bankruptcy. After all his assets have been sold and the proceeds distributed among his creditors, Roland's remaining debts, subject to certain exceptions

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In Chapter 7 bankruptcy, after the debtor's non-exempt assets are liquidated and the proceeds distributed to creditors, most of the remaining debts are discharged, meaning the debtor is no longer legally required to pay them. Certain debts, however, like student loans and child support, are exceptions and are not discharged.

Roland Files for Chapter 7 Bankruptcy