The Debts That Live Forever

Some debts can be erased by bankruptcy, or by negotiating a settlement if you truly are unable to pay the debts off.

Other debts do not go away no matter what.

If you owe money on state or federal taxes those can not be eliminated by bankruptcy and you have very little negotiating power. You do not want an IRS lien on your credit report, either. You certainly can work out a payment plan, but be aware that you will have to pay interest.

If you owe money for child support or spousal support, a bankruptcy filing will not discharge that.

If there is a judgement against you for an accident caused by drunken driving, bankruptcy will not discharge that.

If there is a judgement against you for willful and malicious acts it most likely will not be discharged by bankruptcy.

If it is determined that you lied or committed fraud to borrow money, that debt will likely not be discharged by bankruptcy.

Student loans can not be discharged by bankruptcy.

These are just some of the debts that can’t be erased by filing for bankruptcy, so it is important to consult with a qualified bankruptcy attorney who is familiar with bankruptcy laws before you consider bankruptcy as an option.

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