What is a bankruptcy discharge?

What is a bankruptcy discharge? Under the federal bankruptcy statute, a discharge is a release of the debtor from personal liability for certain specified types of debts. In other words, the debtor is no longer required by law to pay any debts that are discharged. The discharge operates as a […]

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What debts cannot be discharged in a bankruptcy?

What debts cannot be discharged in a bankruptcy? In a Chapter 7 bankruptcy (liquidation), the Bankruptcy laws will not allow a debtor to “discharge” certain types of debts. The most common “nondischargeable” debts are taxes, student loans, child support obligations, and criminal fines. However, there are exceptions to this basic […]

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