nondischargeable debts


nondischargeable debts
Debts that cannot be wiped out in bankruptcy, such as alimony, child support, and most income tax debts. If you file for Chapter 7 bankruptcy, you will still owe these debts when your case is over. If you file for Chapter 13 bankruptcy, you will have to pay your nondischargeable debts in full during your plan or continue to owe the remainder. Compare: dischargeable debts
Category: Bankruptcy, Foreclosure & Debt → Bankruptcy

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • nondischargeable debts —    Debts that are not erased by filing for bankruptcy. In Chapter 7 bankruptcy, such debts remain when the case is over; in Chapter 13 bankruptcy, such debts have to be paid in full as part of the payment plan or remain as a balance at the end of …   Business law dictionary

  • nondischargeable debt — a debt that cannot be eliminated in bankruptcy (Glossary of Common Bankruptcy Terms) A debt that is excluded from the Debtor s discharge on one or more of the grounds enumerated in the Bankruptcy Code. See 11 U.S.C. § 523 (SA Bankruptcy.com)… …   Glossary of Bankruptcy

  • Nondischargeable Debt — A type of debt that cannot be eliminated through bankruptcy proceeding. Such debts include, but are not limited to, student loans, most federal, state and local taxes, money borrowed on a credit card to pay those taxes, and child support and… …   Investment dictionary

  • dischargeable debts —    Debts that can be erased through bankruptcy. This includes most debts incurred before an individual or business declares bankruptcy. Compare nondischargeable debts …   Business law dictionary

  • dischargeable debts — Debts that can be wiped out in bankruptcy, such as credit card debts, medical bills, and back rent. Compare: nondischargeable debts Category: Bankruptcy, Foreclosure & Debt → Bankruptcy Nolo’s Plain English Law Dictionary. Gerald N. Hill,… …   Law dictionary


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