If you are struggling with debt challenges, bankruptcy can be a positive step in order to get a fresh start. While many debts are dischargeable in bankruptcy, some are not. The following debts typically cannot be discharged in either a Chapter 7 or Chapter 13 bankruptcy:
- Child Support and alimony arrears
- Many fines, penalties and judgements for violating the law
- Student loans in most cases
- Various tax debts
- Debts you neglected to include in your bankruptcy
Although, most unsecured debt is dischargeable, such as credit card debt, the bankruptcy judge could declare some debts non-dischargeable, sometimes at the behest of a creditor:
- debts you incurred fraudulently
- debts from embezzlement, larceny or breach of trust
- debts from willful or malicious injury to another person’s property
- loan or cash advances taken within 60 days of filing
- debts owed under a divorce decree or settlement in most cases
If you have questions regarding your eligibility for bankruptcy, contact Charles E. Covey, Attorney at Law for help. Charles has helped many clients obtain debt relief with Chapter 7 and Chapter 13 bankruptcy and can help you find a strategy that works for you.
