Which debts cannot be discharged in bankruptcy?

In California, bankruptcy is a legal process that helps people who are unable to pay their debts. There are certain debts, however, that cannot be discharged, or eliminated, in bankruptcy. These are referred to as “non-dischargeable” debts. One example of a non-dischargeable debt is student loans. These types of debts typically cannot be discharged in bankruptcy, since education is seen as an investment in oneself. Another type of non-dischargeable debt is taxes owed to the government. This includes unpaid income tax, Social Security, and Medicare taxes. Criminal fines and child support or alimony payments are also non-dischargeable. This means that if you owe money to the government or an individual, those debts cannot be eliminated through bankruptcy. Debts related to fraudulent activities and willful or malicious harm to another person are also not dischargeable. This includes anything related to a breach of fiduciary duty, such as embezzlement or fraud. Finally, certain debts related to luxury goods or services cannot be discharged. This includes debts related to gambling, purchases over $600 within 90 days of filing for bankruptcy, and cash advances over $825 within 70 days of filing for bankruptcy. In conclusion, there are several types of debts that cannot be discharged in California bankruptcy. These include student loans, taxes owed to the government, child support or alimony payments, criminal fines, fraudulent activity debts, and certain debts related to luxury goods or services.

Related FAQs

Can I file for bankruptcy if I'm unemployed?
What is the difference between a bankruptcy trustee and a bankruptcy lawyer?
Can I still obtain a loan after filing for bankruptcy?
What do I do with any unexpired leases or contracts when filing for bankruptcy?
How often can I file for bankruptcy?
Can I discharge student loan debt through bankruptcy?
How can I protect co-signers from being affected by my bankruptcy?
How do I convert my bankruptcy case from a Chapter 7 to a Chapter 13?
How do I obtain a copy of my credit report after filing for bankruptcy?
How do I fill out the bankruptcy forms?

Which debts cannot be discharged in bankruptcy?

Related FAQs

Related Blog Posts