What happens to any debts that are not discharged in Chapter 7 Bankruptcy?

When filing for Chapter 7 Bankruptcy in Michigan, any debts that are not discharged still need to be paid back. Dischargeable debts are those that are wiped away by the court under certain conditions, while non-dischargeable debts must be paid back in full. These non-dischargeable debts include taxes owed, student loans, child support, alimony and debt from a criminal conviction. In addition, any debts that were acquired as a result of fraud or malice are also non-dischargeable. This could include credit card debt or other debts that were obtained by providing false information or otherwise acting intentionally to deceive the creditor. These are not forgiven by the court. It is important to note that any liens that are attached to property cannot be discharged in Chapter 7 Bankruptcy. These liens must be paid off in full, or the creditor will have the right to take ownership of the property. Overall, when filing for Chapter 7 Bankruptcy in Michigan, any debts that are not discharged must still be paid. These debts include any taxes owed, student loans, child support, alimony, debt from a criminal conviction and any debt that was obtained through fraud or malice. Additionally, any liens attached to property must still be paid off in full, or the creditor may take possession of the property.

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What happens to any debts that are not discharged in Chapter 7 Bankruptcy?

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