What Will I Owe After Bankruptcy?

When a debtor files bankruptcy there are debts that are dischargeable and other debts that cannot be discharged during bankruptcy.
Let’s take a look at some of the things you may still need to pay after your bankruptcy discharge:

Student Loans – If you file bankruptcy and owe student loans , they will most likely not be discharged in bankruptcy unless you were able to prove that repayment would be an unreasonable burden.
Child Support – Even if child support payments would be a burden to repay, filing bankruptcy will not get rid of them.
Certain Tax Obligations – Although taxes can be discharged in bankruptcy , they must meet certain criteria. Since every bankruptcy case is different discuss your tax liabilities with your bankruptcy attorney before filing.
Mortgage – When filing bankruptcy, you may be able to save your home from foreclosure . However you still need to pay the mortgage as agreed to avoid a future foreclosure after your bankruptcy discharge.
Car Payment – Like your home, you can often keep your car during a bankruptcy; but you still need to pay the note. After your bankruptcy discharge, if you decide to keep your car you will be required to pay the note or face repossession .

By |2017-12-21T01:20:46+00:00October 16th, 2009|Uncategorized|Comments Off on What Will I Owe After Bankruptcy?