Are there any types of debt that will survive a bankruptcy discharge?
Yes, there are certain types of debt that will survive a bankruptcy discharge in North Carolina. These include alimony and child support payments, certain tax obligations, student loans, and government-owed fines or restitution. Alimony and child support payments are usually non-dischargeable debts, meaning that they will not be wiped out in bankruptcy. This is because family law obligations are generally deemed more important than other debts. Tax obligations are also typically not dischargeable in bankruptcy. This is because the government has special priority when it comes to collecting payments, and taxes are generally seen as the most important debt. Student loans are also not dischargeable in a bankruptcy. Because these loans are often used for educational purposes, which is seen as beneficial for the public, they are not dischargeable. Finally, government-owed fines or restitution may also not be discharged in bankruptcy. This is because the government has a duty to ensure that justice is served, so these debts are usually not forgiven in bankruptcy.
Related FAQs
What is the difference between a joint bankruptcy filing and an individual filing?What debts can I discharge in bankruptcy?
How will filing for bankruptcy affect my spouse?
What is the difference between a bankruptcy trustee and a bankruptcy lawyer?
How can I find a qualified bankruptcy attorney?
Are there any exceptions to the automatic stay issued when filing for bankruptcy?
What is the 341 meeting of creditors?
Does filing for bankruptcy eliminate debts such as child support and alimony?
Can I keep my home when filing for bankruptcy?
What is the bankruptcy automatic stay?
Related Blog Posts
What is Bankruptcy Law? - July 31, 2023What Are the Most Popular Types of Bankruptcy? - August 7, 2023
How to Choose the Right Bankruptcy Attorney for Your Case - August 14, 2023
Understand the Consequences of Not Filing for Bankruptcy - August 21, 2023
How to Avoid Bankruptcy With Financial Self-Management - August 28, 2023