Will Bankruptcy Wipe Out All My Debts?
Yes, with some exceptions. Bankruptcy will not normally wipe out:
- Money owed for child support, obligations relating to divorce, domestic support obligations;
- Governmental fines and and penalties;
- Most taxes;
- Debts incurred through fraud;
- Debts resulting from intentional harm;
- Student loans (unless you bring a separate action in bankruptcy court and the judge decides that payment would be an undue hardship);
- Mortgages, car loans, liens and other security interests, which are not paid in your bankruptcy case, unless you surrender the collateral.
This website does not create an attorney-client relationship. The information on this website does not constitute legal advice. You are urged to obtain the advice of an experienced bankruptcy attorney regarding your personal situation.