Bankruptcy may be the best way in which you can receive some financial relief, but not necessarily full financial relief. In other words, some of your debts may still linger after your bankruptcy filing. Continue reading to learn the best way to deal with your non-dischargeable debts and how an experienced Rockland County bankruptcy attorney at The Law Offices of Allen A. Kolber, Esq. can assist you in doing so.
What are examples of non-dischargeable debts?
Generally speaking, non-dischargeable debts are debts that cannot be delimited with a bankruptcy filing. More specifically, you will still be held responsible for paying off the following:
- Your home mortgage.
- Your debts for alimony or child support.
- Your debts for attorney fees for child custody or child support disputes.
- Your debts for most government-funded or guaranteed educational loans.
- Your debts from fines by certain government agencies.
- Your debts for death or personal injury caused by you.
- Your debts for restitution or a criminal fine.
- Most of your debts for taxes or liens.
- Most of your debts for money or property that were obtained under false pretenses.
- Most of your debts for fraud.
What is the best way to deal with these debts during bankruptcy?
It is important to note that for a Chapter 7 bankruptcy, you do not have an absolute right to discharge certain debts. Instead, you must fulfill all the requirements of bankruptcy law. This may mean providing necessary documents, such as your tax documents and other financial records. This may also mean avoiding a violation of a court order, committing perjury, or otherwise committing a fraudulent act during your bankruptcy case. If not successful, you may just end up responsible for every one of your debts.
On the other hand, if you opt for a Chapter 13 bankruptcy, you will be required to provide the bankruptcy court with your repayment plan. This plan is supposed to highlight how you intend to pay off your remaining debts over three to five years. And so, you may use this plan to your advantage by incorporating your non-dischargeable debts. This will allow you to deal with them in a way that is fair and manageable. You mustn’t purposefully leave out certain debts from your plan in the hope that the bankruptcy court and your creditors will forget about them, or else you will be sadly mistaken.
For more information on how to handle your non-dischargeable debts during your bankruptcy proceedings, you must seek the legal advice of a skilled Rockland County bankruptcy attorney. We have handled an innumerable amount of cases just like yours, so we will know exactly what your next move should be. Schedule your free initial consultation with our firm as soon as you can.
