What debts cannot be discharged in Chapter 7 Bankruptcy?

Chapter 7 Bankruptcy law in South Dakota generally allows individuals to discharge most of their debts in order to begin fresh without being inundated with debt payments. However, some types of debt are not eligible for discharge, or forgiveness, under Chapter 7 Bankruptcy law in South Dakota. This includes student loan debt, certain taxes, child support, and alimony payments. Student loan debt is not generally eligible for discharge because of its special status. Because most student loan debt is backed by the federal government, it cannot be forgiven. Unfortunately, this means individuals are still on the hook for any student loan debt they have acquired before filing for bankruptcy, even under Chapter 7. Certain taxes are also not eligible for discharge under Chapter 7 bankruptcy in South Dakota. This includes taxes stemming from fraud, misrepresentation, or failure to file taxes on time. In addition, taxes owed on property or investments that were sold within 10 years of filing for bankruptcy are generally not eligible to be discharged under Chapter 7. Additionally, any debts stemming from family law cases, like child support or alimony payments, are generally not eligible for discharge in Chapter 7 bankruptcy in South Dakota. These debts are considered to be a priority and must be paid, even if the individual filing for bankruptcy is unable to pay off other debt. Overall, it is important to understand what debts cannot be discharged in Chapter 7 Bankruptcy in South Dakota. While most debt is eligible to be forgiven in Chapter 7 filing, certain types of debt, like student loan debt, certain taxes, child support, and alimony payments, cannot be discharged and individuals remain responsible for repayment.

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What debts cannot be discharged in Chapter 7 Bankruptcy?

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