Damages caused by drunk driving. Alimony and child support. Student loans - unless such loans have been due and owing for at least five years or requiring the debtor to repay would impose an undue hardship on the debtor. Income taxes - if they were due within the last three years, or if you filed a fraudulent return, failed to file a return at all, or filed a late return for an earlier year's taxes within the last three years. Debts you forget to list in your bankruptcy filing.
Secured debts are dischargeable in bankruptcy, but there is a catch.
When you file for bankruptcy, the loan is discharged. Generally, these debts are dischargeable in bankruptcy, so you will not have to repay your friends or relatives. If you nevertheless wish to repay them, wait until after you file for bankruptcy, to ensure your friends and relatives will be able to keep the money. Otherwise, they may not be allowed to keep any payments they receive within ninety days before your filing for bankruptcy. Inc. All rights reserved.