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While bankruptcy may sound easy, its laws are a tangle of rules and exceptions. Some debts are forgiven under one type of bankruptcy, but may not be discharged under another. It helps to know which debts remain.
Child and Spousal Support
Any court ordered debt covering the care of your child or ex-spouse must be paid under bankruptcy laws.
Student Loans
Most federally backed student loans will not be discharged by bankruptcy, regardless of the amount still owed.
Taxes
There's no avoiding paying Uncle Sam, even though you're telling him that you don't have the money to pay your monthly obligations. Taxes, current and past, must be paid.
Debts Omitted From Bankruptcy Filing
All debts you are looking to have discharged in a bankruptcy proceeding must be listed at the time of filing. Failure to do so will result in you having to repay those debts.
Debts For Injury Caused To Another Person
Inflicting willful injury upon a person or property, or the debts incurred due to injuring a person while driving drunk, are not discharged.
Fines to the Government
If you owe fines or penalties to governmental agencies, you still will after your bankruptcy.
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