NON-DISCHARGEABLE DEBTS
There are many types of debts that can be wiped out via bankruptcy. However, there are also debts that can not be eliminated by a bankruptcy, otherwise known as non-dischargeable debts. If you are thinking about filing bankruptcy, then you are going to want to familiarize yourself with what types of debts are considered non-dischargeable.

Marital Debts
Any debt that is incurred during a divorce or separation can not be discharged by a Chapter 7 BK.

Child Support and Alimony
Neither child support nor alimony can be discharged by filing a bankruptcy. People owed 'domestic support obligation', or DSO's are protected by the 2005 bankruptcy code. DSO's are any debts that accumulate before, on or after the day the bankruptcy is filed and are recoverable or owed to a spouse, former spouse, or child of the bankruptcy petitioner, or a governmental unit.

Taxes
You can not discharge your income tax debt in your Chapter 7 bankruptcy unless: the income tax is older than three years, the return was filed on time and and correctly.

It is possible for your tax to be dischargeable if you filed late, but more than two years before filing for your bankruptcy. There will likely be additional considerations that need to be met in order for your tax debt to be discharged. 

Student loans
Only if payments would result in excessive hardship to the debtor, any non-profit, government or any other type educational loan governmental are non-dischargeable.

Citations and Fines
Any sort of fine for breaking the law are non-dischargeable. This includes traffic tickers and any sort of court-ordered criminal restitution.

Intentional Torts
Any debt that is a result of a malicious or willful act can not be discharged. Debts incurred from fraud or intentional tort can be discharged. It is possible that your creditor will file a notion with the courts to attempt to have the debt declared as valid.

Fraud
Any debt you incur as a result of participation in a fraudulent act are non-dischargeable.

Driving While Intoxicated
Any sort of debt that results from an injury or death while driving while intoxicated is not dischargeable.

Recent Credit Purchases/Cash Advances
Debt that is owed to one creditor for a luxury good or service are not dischargeable if they total more than $500, incurred within 90 of filing BK or are payday loans greater than $750 and were obtained within 70 days.


Filing Bankruptcy
How to File Bankruptcy
Bankruptcy Good or Bad?
Types of Bankruptcies
Bankruptcy Questions and Answers
Automatic Stays
Importance of Getting Credit After Bankruptcy
Credit Cards After Bankruptcy
Non-Dischargeable Debts
Avoid Filing Bankruptcy



 

 

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