Bankruptcy Discharge: What You Should Know
What is a bankruptcy discharge? A bankruptcy discharge is a court order that legally extinguishes your responsibility to pay back your debt. While the discharge may eliminate your responsibility to pay back most debts, not all debts can be discharged in a bankruptcy proceeding. Debts that cannot be discharged in bankruptcy include, but are not limited to:
- Child support
- Most tax debt;
- Most student loans;
- Court ordered fines and criminal restitution; and
- Debt resulting from personal injury as a result of driving under the influence of drugs or alcohol.
What Debts Can Bankruptcy Discharge?
Bankruptcy will only discharge those debts that were incurred before prior to filing bankruptcy. Another critical thing to remember is that you must list all of your debts in your bankruptcy schedules. If you forget to include a debt, that debt may not be discharged. Also, a bankruptcy judge has the authority to deny your discharge if the information provided in your schedules was not truthful.
Still Have Questions? Call Us!
If you are interested in learning more about the bankruptcy laws, I urge you to contact me at The Cherney Law Firm, LLC. My firm is located in Marietta, Georgia, but I also serve the residents of Alpharetta and the surrounding areas.