»

Jun 19

Undischargeable debts under bankruptcy law

A bankruptcy discharge occurs when a court relieves a debtor of the liability of paying a debt (which is not the same thing as having a debt forgiven).

Not all debt is dischargeable. Here is a list of some the things that are not:

  1. Fraudulent debt, i.e., debt which was incurred with no intent to pay off.
  2. Debt incurred as the result of criminal restitution
  3. Most debt incurred at the time of a divorce, including alimony, marital property settlements and child support
  4. Fines including parking tickets, toll road fees, and bad checks.
  5. Debts incurred if you injured someone while drunk
  6. Some, but not all taxes
  7. Student loans. Interest does not stop during the filing process, but you will owe no payments during that time.