Bankruptcy NonDischargable Debt
Bankruptcy does not eliminate all debts. Nondischargeable debts relate primarily to a Chapter 7 bankruptcy. A discharged debt is one that is forgiven by law (the Court) you no longer are responsible for.
A nondischargeable debt is not forgiven, you still owe. The court will sell your assets to repay creditors any amount you still owed them.
Some debts, even after bankruptcy, you will still may be responsible to pay those debts or face continued legal action. When you file for Bankruptcy the court will review your situation to determine if you will receive a “hardship determination” to have certain debts discharged through bankruptcy.
Even if hardship is determined by the court, the courts are under no obligation to discharge certain types of debts. Some of those nondischargable debts could follow you for the rest of your life.
These debts may include Child Support, Alimony, Victim’s Compensation (Personal injury claims), Wrongful death claims, Criminal Restitution Payments, Property damages claims, Certain taxes, student loans, other loans guaranteed by a governmental agency, Debts incurred within 60 days of filing for bankruptcy, Taxes incurred within 3 years of filing for bankruptcy, Most Student loans, Cash advances against a credit card within 60 days of filing for bankruptcy.
Please see a bankruptcy attorney for complete up-to-date details about your case and individual situation and recent bankruptcy laws.
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