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What Debts Can You Include in Bankruptcy

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  • 05-27-2010, 04:46 PM
    Please Help!
    What Debts Can You Include in Bankruptcy
    State: Mississippi

    I am thinking about filing bankruptcy and would like to know what all debts I can include in the file. I'm not sure if chapter 7 or chapter 13 would be better so please answer for both. Can you include lump sum alimony, personal property awarded to ex-spouse in divorce decree, credit card debt, charge -off loans, or student loans
  • 05-28-2010, 09:29 PM
    Mr. Knowitall
    Re: What Debts Can You Include in Bankruptcy
    You can include any debts that are not exempt from discharge. If you want a list of your exemptions, you should be able to find one in about thirty seconds via your favorite search engine. If you have questions about a specific asset or debt, ask away.

    Most student loans cannot be discharged; I have no information about yours.

    Most civil judgments and credit card debt can be discharged. That can change depending upon when a debt is incurred relative to the bankruptcy filing, or the basis for the judgment. As they say, the devil is in the details.

    The debt that you owe to your spouse as the result of your divorce decree cannot be discharged.
  • 05-28-2010, 09:33 PM
    Dogmatique
    Re: What Debts Can You Include in Bankruptcy
    UNLESS the alimony has been reduced to a civil judgment - once that happens discharge is often a possibility.

    Student loans? Google "Brunner Test".
  • 09-15-2010, 08:15 PM
    Fritzerald Griffin
    Re: What Debts Can You Include in Bankruptcy
    Attention Pls. Help!
    Your problem is really hard to handle if you don't have an idea on what are the necessary steps and strategies that you are going to do. I would suggest that you should seek an advice from a legal counsel to help you fixed it. The Cincinnati bankruptcy lawyer is the best one in this kind of case just like mine.
  • 10-18-2010, 12:51 AM
    ndscla
    Re: What Debts Can You Include in Bankruptcy
    Debts from medical bills, personal loans, credit card debt , repossession and foreclosures are generally dischargeable as part of bankruptcy. Student loans debts can be discharged if you meet the undue burden standard, but this standard is rarely met. Alimony and support payments are non-dischargeable but debts that are in the form of property settlement may be able to be discharged as part of a Chapter 13 bankruptcy. Other debts that are generally non dischargeable include income taxes (unless they meet a 4 prong test-due more than 3 years ago, filed at least 2 years ago or on time, do not involve fraud or intent to evade taxes, and assessed more than 240 days ago). Debts involving fraud, criminal fines and debts resulting from driving while intoxicated, are considered nondischargeable.
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