McCook Bankruptcy Attorney

What debts are not dischargeable is described by a McCook bankruptcy attorney. Some debts are not dischargeable in bankruptcy. The most common debts that are not dischargeable in bankruptcy are student loans, certain IRS debt, certain parking tickets and moving violations and child support order to receive the associated with representation for domestic relations disputes. For example, and attorney’s fees who are awarded to them in family law court for representation of another person for child support or maintenance or things of that nature. So these are the debts that are not dischargeable in bankruptcy.

Student loans are often involved in bankruptcy news and are dischargeable to a certain respect; however, is a very, very high standard in order for someone to discharge their student loans. This high standard is very, very hard to overcome in many respects because the bankruptcy court does not want student loans to be discharged. And they are usually unsuccessful when trying to discharge a student loan. Child support also is a big issue that is not dischargeable. The child-support debts will need to be paid back whether you file a Chapter 7 or a Chapter 13 as well as any attorney’s fees associated with that child support.

These are the different things that are not dischargeable. Another common non-dischargeable debt is income tax related debt that is owed to the IRS. The law is that IRS debt that is three years prior to filing a bankruptcy is not dischargeable. Any debt that is beyond those three years previously is debt that is dischargeable. For instance, if we file the case on December 13, 2011, then any debt that is owed to the IRS three years prior to filing would be debt that is not dischargeable. If the IRS debt was incurred prior to three years of filing the case, then that debt would be dischargeable. Before you decide to claim bankruptcy, you want to make sure that the time period is favorable as to debt dischargeability. Otherwise, you have wasted the filing.

Another common not dischargeable debt is certain parking tickets. Those tickets will need to be paid back either in a Chapter 13 repayment plan or a payment plan outside of the Chapter 7 bankruptcy. So these are the most common things that are not dischargeable in bankruptcy. To learn more about your rights under the U.S. Bankruptcy Code, find a bankruptcy lawyer who has experience in the field. Do not hire an attorney based upon price alone. If you do, then you might just get what you pay for.

Posted in Illinois Bankruptcy |