However, bankruptcy is serious, which needs considerable research and thought before you proceed. Recent modifications to bankruptcy laws have made it harder for people to file for it. The law is quite complicated and there are a lot of caveats, which exclude certain types of debts from being discharged.



This means you'll want to get some straight answers to bankruptcy questions before you go to court. Some situations may apply to your case. Let's take a look.

There are several types of debts, which the court may not allow to be discharged in your bankruptcy filing. For example, if you received a government funded or guaranteed loan for education, this debt will have to be repaid. If you owe alimony or child support, the court will not discharge this obligation.

After bankruptcy, certain debts owed for injuries or death as a result of a DUI will also stand. In some situations, condominium charges you owe will also have to be paid. Also, tax claims can not be discharged. You can see that having all of these debts may make your bankruptcy pointless. This list may not be full, so you better consult an attorney or just do some research on getting some of your answers to bankruptcy questions before you incur yet more debt.

Under title 18 of the United States criminal code, if you have a criminal conviction, where you have been required to pay restitution, bankruptcy will not help you. This debt will remain.

Many people facing bankruptcy erroneously believe that they are allowed to keep vehicles, which are financed as your transportation if necessary. This is not true anymore. If you have two cars for your household which are financed, the loan company can repossess both cars. Bankruptcy will not protect you.

Also, If you are paying a mortgage on your house, this debt also survives bankruptcy.

Your creditors can challenge you in a separate court for a debt which they think they should be permitted to collect, no matter if you filed for bankruptcy. They can sue you to validate their claim, costing you more money and the risk that you will be stuck with this debt.

If you're considering bankruptcy, make some research and get all of your answers to bankruptcy questions, before you opt for filing. There are a lot of other alternatives that may well help you.