What debt isn’t included in a bankruptcy?

Bankruptcy won’t eliminate child support or alimony payments, fines or some taxes. If you don’t list certain debt types they won’t be taken care of by the bankruptcy filing. Any  loans that  you got by knowingly giving false information to a creditor may not be discharged. Any debts resulting from “willful and malicious” harm would still be your responsibility.
Student loans are almost never dischargeable in a bankruptcy, except if the court decides that the payment would be an undue hardship. Also mortgages and other liens which are not paid in the bankruptcy case, unless you are surrendering the property. If the property was sold by the creditor then bankruptcy can eliminate any obligation that you may have had to pay the difference in the selling price.
To learn more about your bankruptcy options contact The Law offices of Jill McDonald. We have two convenient locations in Clearwater and in St. Petersburg. (727) 231-4300

Bankruptcy Information is believed reliable, but accuracy and completeness are not guaranteed. Nothing in this web site is intended as, or should be used as, a substitute for professional, financial, or legal advice.