Are there any types of debt that will survive a bankruptcy discharge?

In Virginia, there are several types of debt that will survive a bankruptcy discharge. These include child support, alimony and any court-ordered fines or penalties. Other examples of debt that will remain after a bankruptcy discharge in Virginia are student loans, certain taxes, and court-ordered restitution. Debt that is considered “secured”—that which is backed by collateral such as a home, car, or other valuable item—and debt incurred through fraudulent activities are also not typically discharged during bankruptcy. This means that debt obtained through misrepresentation or false statements to creditors is not eligible for discharge. It is important to note that Chapter 13 bankruptcies, or reorganization bankruptcies, are different from a Chapter 7 bankruptcy, as it does not discharge debt but instead provides a repayment plan to allow a debtor to keep some assets. In a Chapter 13 bankruptcy, any debt incurred to acquire the asset, like the mortgage on a house, will not be discharged, but instead the repayment plan is still in effect and the debtor must continue to pay their debts through the court-ordered plan. Finally, any debt incurred after filing for bankruptcy will also survive the bankruptcy process. Since bankruptcy is an action taken to discharge existing debts, any new debts that are incurred during the process will not be discharged and will still be owed after the bankruptcy has been completed. No matter what type of bankruptcy is filed, it is important to understand the types of debt that will survive the bankruptcy process and those that are eligible for discharge. Knowing this information can help ensure that debt is properly managed and taken care of.

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Are there any types of debt that will survive a bankruptcy discharge?

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