What is considered a non-dischargeable debt?

Non-dischargeable debt is a type of debt that is not eligible to be erased or wiped away in bankruptcy. In the state of Colorado, common non-dischargeable debts include: taxes, alimony, most student loan debt, and any debt resulting from fraud or embezzlement. Additionally, court restitution and fines, debts acquired before marriage, and some government-related debts are not eligible to be discharged in bankruptcy. It is important to note that not all debts can be wiped away in bankruptcy. Non-dischargeable debt must still be paid regardless of filing for bankruptcy. Depending on the kind of bankruptcy that is filed (Chapter 7 or Chapter 13), some non-dischargeable debts may be restructured or moved to secured debts, but these debts still must be paid. For example, in a Chapter 13 bankruptcy, the court may allow some non-dischargeable debts to be restructured into a repayment plan. When it comes to filing for bankruptcy in Colorado, it is important to understand the different types of debt and which ones are not eligible to be discharged in bankruptcy. A bankruptcy lawyer can help individuals determine whether or not their debt falls into the category of non-dischargeable debt.

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What is considered a non-dischargeable debt?

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