What is a discharge regarding bankruptcy?
Full Question:
What is a discharge regarding bankruptcy?
01/05/2007 |
Category: Bankruptcy |
State: Alabama |
#201
Answer:
Discharge of debts is the goal of the debtor in a bankruptcy filing. A discharge means that a debt has become unenforceable and the debtor is released from all liability regarding that debt. It should be noted however, that certain types of debts are not dischargeable, even though they are listed in the bankruptcy petition. They include:
student loans
taxes owed to the goverment
alimony and child support
debts obtained by fraud, false pretenses, a false representation or a false written statement regarding the DEBTOR'S financial condition
debts for embezzlement, larceny or fraud while acting in a position of trust
debts arising from the debtor's driving while under the influence of alcohol or drugs.
