Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors...
Here's a primer on which debts will not be discharged in Chapter 7 bankruptcy. (
To learn more about what happens to debts in Chapter 7 bankruptcy, including ...
if such debt is not of a kind specified in paragraph (2), (4), or (6) of this ... debtor
under this title or under the Bankruptcy Act in which the debtor waived discharge,
Instead, this article is a basic overview of section 523 and the major proposed
changes regarding debts that may not be discharged in a bankruptcy. (For a ...
Did you know that not
in a bankruptcy
case? This means that even if you file for bankruptcy
and you receive a discharge
, you will still owe the debt
as if you had never filed in the first place! This is extremely important to understand giv... More »
If you file for bankruptcy under Chapter 7, you should be aware that not all debts
are eliminated (or discharged) once the bankruptcy process is complete.
Learn about the debts that don't go away when you file for bankruptcy, called “
nondischargeable” ... One consequence might be your debt not being discharged
A bankruptcy discharge releases the debtor from personal liability for certain
specified types of debts. In other words, the debtor is no longer legally required to
This isn't true of all debts, however. Some debts are not discharged in bankruptcy
. If you file for Chapter 7 bankruptcy, you will still owe these debts after your ...
Restitution: Court-ordered restitution is not dischargeable in bankruptcy.
Restitution is a court-ordered sum of money you must pay for causing financial
loss or ...