Wood & Associates: Attorneys At Law

What debts will I still owe after my Chapter 7 bankruptcy?

In plain terms, Bankruptcy is the process to help individuals in financial crisis get back to sound footing by (getting rid) of debt without paying for it. It’s a safety net for individuals and families to be financially sound and have a chance to secure a sound financial future and eventual retirement.

But, not all debts will be automatically forgiven through a Chapter 7 bankruptcy. Here is a list of the debts that you will still have to pay:

  • Child Support and Alimony
  • ­Tax Debt
  • Costs, fines, and restitution for breaking the law
  • Student Loans
  • Injuries you caused while drunk driving or driving under influence of illegal drugs
  • Marital debts that are not considered support*
  • Court fees*
  • Loans on your retirement plan*
  • Debts not discharged in previous bankruptcy order*

The italicized debts above start as non-dischargeable.

*These debts may be dischargeable under a Chapter 13 Bankruptcy but are not dischargeable in a Chapter 7 bankruptcy.