Certain types of debt can not be discharged by filing for bankruptcy. Although bankruptcy is designed to eliminate many types of debt, there are certain types of debt that can not be discharged. Some of these debts typically include, but are not limited to:
- most federal funded student loans
- federal taxes
- state taxes
- local taxes
- money borrowed on a credit card to pay government taxes
- debts incurred based on fraudulent acts
- debts from willful and malicious acts to another person or property
- debts from embezzlement
- debts from larceny
- debts from a breach of fiduciary responsibility
- child support
- alimony
- debts not set forth by the debtor on the lists and schedules the debtor must file with the court
- debts for certain condominium or cooperative housing fees
You should speak with your local bankruptcy lawyer to see how your personal situation applies to the federal and state bankruptcy laws. Local attorneys, such as David I. Pankin P.C., a New York bankruptcy lawyer, can help you determine what is the best option for your specific situation.
