What is a nondischargeable debt?

A nondischargeable debt is a debt that cannot be eliminated through bankruptcy in Chapter 7 bankruptcy law in New Hampshire. Even if a person files for bankruptcy, these debts will still be due to the creditor. These types of debt include certain types of taxes, student loan debt, child support, alimony, and some fines. In some cases, there are some exceptions to these debts being dischargeable, but it is best to consult with a qualified attorney to determine if this is a viable option. Additionally, if the debtor has fraudulently obtained the funds, then the debt is also nondischargeable. The bankruptcy laws in New Hampshire are designed to assist consumers in getting a fresh start financially by eliminating certain types of debt. However, this does not include nondischargeable debts. These debts must still be paid in full or a repayment plan must be worked out with the creditor. It is important to note that bankruptcy will not automatically eliminate nondischargeable debt; it is important to understand the specific laws in New Hampshire to determine the best route for an individual’s financial situation.

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What is a nondischargeable debt?

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