Debts Bankruptcy Does Not Get Rid Of
Posted on Jun 23, 2010 3:28pm PDT
When people are thinking about filing for consumer bankruptcy, it is important that they know which debts bankruptcy does not get rid of. People who file for bankruptcy, whether chapter 7 or chapter 13, will still be responsible for paying:
§ their child support
§ their spousal support/alimony
§ their student loans
§ any taxes that are owed
§ any fines or penalties owed to government agencies
§ any cash advances of $825 within 70 days of filing for bankruptcy
§ any purchases of more than $550 for material goods purchased 90 days prior to filing for bankruptcy
As you can see, just because people choose to file for bankruptcy does not mean that they will be free and clear from all debt. If you have additional questions about your debt and how bankruptcy will impact your finances, now is the time to and consult with a bankruptcy attorney and learn more about your options!