What debts are not dischargeable in Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is a form of bankruptcy that allows individuals to have certain debts discharged or eliminated. While filing for Chapter 7 bankruptcy can provide financial relief, there are certain types of debts that are not discharged in this type of bankruptcy. In Idaho, the following types of debts are not dischargeable in Chapter 7 bankruptcy: 1. Most taxes including income taxes, payroll taxes, and inheritance taxes. 2. Child support and alimony payments. 3. Debts incurred due to fraud or malicious or willful misconduct. 4. Unpaid student loans 5. Debts that are not listed in the bankruptcy petition. 6. Certain types of fines and penalties as determined by the court. 7. Debts incurred as a result of a DUI or DWI offense. 8. Any debt incurred from a personal injury lawsuit resulting from an automobile accident or other incident where you were found to be at fault. If you have any of these debts, they will not be wiped out in Chapter 7 bankruptcy. In order to resolve these debts, you will likely need to set up a payment plan with your creditors or negotiate a settlement amount. It is important to remember that filing for bankruptcy does not discharge every debt and it is important to review your debts carefully to make sure you are aware of which debts are not dischargeable.

Related FAQs

What debts are not dischargeable in Chapter 7 Bankruptcy?

Related FAQs

Related Blog Posts