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nondischargeable debts
Debts that cannot be erased by filing for bankruptcy. If you file for Chapter 7 bankruptcy, these debts will remain when your case is over. If you file for Chapter 13 bankruptcy, the nondischargeable debts will have to be paid in full during your plan or you will have a balance at the end of your case. Examples of nondischargeable debts include alimony and child support, most income tax debts, many student loans and debts for personal injury or death caused by drunk driving. Compare dischargeable debts.
More Definitions
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Decide If Bankruptcy Is Right for You
- Learn about it.
- Consider simpler alternatives.
- Make sure you are you eligible.
- Learn which debts won't be cancelled.
- Consider what will happen to your home.
- Will you lose your car or other property?
- Will your credit cards be paid off?
- Is your pension, IRA, or 401(k) safe?
- Will cosigners be stuck with your debt?
- Consider your personal life.
> get the details
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