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Dischargeable vs. Non-Dischargeable Debt

It is important to know the difference between dischargeable and non-dischargeable debts, to have a clear idea about what will happen to your debts once you file for bankruptcy. It is explained here, along with some examples.

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Dischargeable vs. Non-Dischargeable Debt

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  1. TYPESOFDEBTS Nader & Berneman Therearemainlytwotypesofdebts- DischargeableandNon-Dischargeable Debtswhichyoudon'thavetorepayonce Examplesofdischargeabledebts: youfileforbankruptcyarecalled dischargeabledebts. Oncethebankruptcy Paymentsonmotorvehicles dischargeorderispassed, younolonger Past-dueutilitybills areresponsiblefortherepaymentand Creditcarddebts lenderscannoforceyoutorepay. Personalloansandmore DISCHARGEABLEVS. NON-DISCHARGEABLEDEBT Someexamplesofnon-dischargeable Evenafterbankruptcydischarge, some debts, thoughitmaydifferaccordingto debtsmaystillneedtoberepaidandthose yoursituation: debtsarecallednon-dischargeabledebts. Cashadvancesover $750madewithin70 Thecreditorcandemandmoneyfromyou daysoffilingthebankruptcy asperthepaymentarrangement. Studentloans Debtstakentopaytaxes, fines & penalties tofederal, state, andlocalauthorities Childsupportpaymentorspousalsupport Pension orprofitsharingdebts.

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