The primary reason people file for bankruptcy is to get rid of their debt and have a fresh start. But while many of your debts will be discharged in bankruptcy, some debts may remain after filing. Read on to learn more about how to reduce debt by filing for bankruptcy.
Debts Not Discharged with Chapter 7
When you file Chapter 7 bankruptcy, many of your debt will be discharged. There are some debts, however, that will not be wiped out. Some of these debts may be subject to denial or successfully objected by the creditor. Others are never dischargeable, meaning that they fall under a predetermined list of non-dischargeable debts. These include: