What Can Bankruptcy Can't Do Bankruptcy cannot, however, cure every financial problem. Nor is it the right step for every individual.
Common examples are car loans and home mortgages.
You can force secured creditors to take payments over time in the bankruptcy process and bankruptcy can eliminate your obligation to pay any additional money if your property is taken. Nevertheless, you generally cannot keep the house or car unless you continue to pay the debt. In bankruptcy, it is usually not possible to discharge support, alimony, certain other debts related to divorce, some student loans, court restitution orders, criminal fines, and some taxes. In bankruptcy, it is usually not possible to protect cosigners on your debts. After the bankruptcy the cosigner may still have to repay all or part of the loan.