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What debts cannot be discharged in bankruptcy?

If you are thinking about filing for bankruptcy in Washington, D.C., it is important to gain a full understanding of what the process entails. Chapter 7 bankruptcy is often the most popular form due to the fact that you can discharge most of your debt. However, you should note that there is some debt bankruptcy cannot dissolve.

If you have gotten into trouble with the IRS, U.S. News & World Report states that filing for bankruptcy may or may not help you. It all hinges on whether you filed tax returns for the year(s) in question. If you did not file, your chances of getting your tax debt erased are pretty much nil. However, if you did file your returns, then you may be able to get the court to discharge them. If the court cannot discharge the debt, it may be able to lower the amount you owe, which could put you in a better position to settle things with the federal government.

Most people already know that student loans are another debt which cannot be dealt with through bankruptcy. If the bulk of your debt is related to your education, then you will need to explore other options. These options could include consolidating your loans into one debt and thus eliminating multiple payments or proving that you are unable to pay the loans due to a disability that prevents you from working or some other type of long-term hardship.

Another form of debt that you may not eliminate through bankruptcy is court-ordered financial obligation due to a crime you were convicted of, or supporting children or a former spouse. This information should not be interpreted as any form of legal advice; it is for educational purposes only.

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