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Nondischargeable Debt

Contrary to what you see on television or read in the newspapers, certain debts are nondischargeable. This means that if you file bankruptcy, you will not be able to get rid of these debts (even if the creditor does not object).

Common nondischargeable debt include the following:

Nondischargeable Debts

1. Debts you do not list in your bankruptcy papers, § 523(a)(3)

2. Student loans, unless repayment would cause you undue hardship, § 523(a)(8)

3. Most federal, state and local taxes, § 523(a)(1) and any money borrowed or charged on a credit card to pay those taxes, § 523(a)(14); (866) 860-4259 for tax transcripts. [Tax must be due over 3 years ago; Tax return filed within 2]

4. Child support, alimony and debts in the nature of support, § 523(a)(5) and § 523(a)(18)

5. Fines or restitution (to the court or victim) imposed in a criminal-type proceeding, § 523(a)(7); 18 USC § 3613

6. Fees imposed by a court for filing cases, motions, complaints or appeals or for other costs and expenses assessed with such filing, § 523(a)(17) [Prisoners]

7. Debts resulting from intoxicated driving, § 523(a)(9)

8. Debts you could not discharge in a previous bankruptcy that was dismissed due to fraud or misfeasance, § 523(a)(10)

9.  Debts arising from a marital settlement agreement or divorce decree (other than debts for child support or alimony), § 523(a)(15) [New as of 2005]

10. Certain condominium and cooperative fees, § 523(a)(16)

There are also certain debts that you can discharge, unless the creditor files a timely objection with the Bankruptcy Court. This means that if you file bankruptcy, you will be able to get rid of these debts, unless a creditor objects and wins their objection. Common examples of this type of debt include the following:

Dischargeable Unless Creditor Objects

1. Debts incurred on the basis of fraudulent acts, § 523(a)(2); (e.g. credit card use/cash advances w/in 90 days of the filing date is presumed fraudulent)

2. Debts from willful and malicious injury to another or another’s property, § 523(a)(6)

3. Debts from embezzlement, larceny or breach of trust (fiduciary duty), § 523(a)(4)