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bankruptcy.  In community property states a spouse's assets 
and debts would also be included in the bankruptcy, assuming 
they are community property.  Consider all very carefully 
before deciding to file. 
Non-Dischargable Debts - Bills You Have To Pay In Spite Of 
Bankruptcy 
Certain kinds of debt cannot be automatically eliminated by 
bankruptcy filing.  They must meet certain requirements 
before being eliminated by bankruptcy.  If most of your 
debts are non-dischargeable, bankruptcy may not solve your 
financial dilemma.  The only ways a non-dischargeable debt 
can be eliminated through bankruptcy are through an 
exception being granted by the court, a certain period of 
time transpiring since the debt was due, or because the 
creditor does not object to the discharging of the debt.  
Certain debts can only be discharged by an exception.  They 
are: 
Recent Student loans  
This applies to student loans that became due within the 
last five years.  Any extension of repayment would be added 
to this time period.  Some courts, furthermore, will only 
discharge payments that are more than five years past due.  
So if the student loan was due seven years ago and the 
payments were originally to be made over a five-year period, 
you would still be responsible for the last three years of 
payments.  The court may also grant an exception to a 
student loan if it would produce an "undue hardship" for you 
to pay it. This is rarely granted. 
Taxes
Federal, state, and local taxes are not dischargeable for at 
least three years after you file your tax return.   Even if 
you've been tied up in tax court for more than three years, 
any tax assessed within 240 days of filing for bankruptcy is 
non-dischargeable.  Property taxes are dischargeable if they 
are over one year late, but the lien against your property 
is not.  The bottom fine is that you can count on the 
government collecting its tax money eventually. 
Child Support and alimony 
These can only be discharged in special circumstances, which 
generally include agreements that have not been 
court-ordered.  If one spouse has agreed to assume more than 
half of marital debts in exchange for lower support 
payments, the court may not discharge all debts held by the 
spouse for bankruptcy.  Consult an attorney if this 
situation applies. 
Fines  
Neither fines from a court, judge, or government agency nor 
surcharges, penalties, and restitution, as a general rule, 
can be discharged in a bankruptcy.  The same is true of 
debts incurred as a result of damage or liability from 
driving while intoxicated.  The debt incurred from 
intoxicated driving must be established in court and a 
judgment must be issued by a higher court. Small-claims, 
traffic, and municipal judgments for intoxicated driving are 
all dischargeable.  Once again, consult an attorney. 
Debts not discharged in a previous bankruptcy 
If debts from a previous bankruptcy have been found 
non-dischargeable, they cannot be discharged in a later 
bankruptcy. 
Debts not listed on your bankruptcy petition 
If you do not include a debt on your petition, it will not 
be discharged.  Many people filing bankruptcy keep one or 
more credit lines with small balances or no balance out of 
the bankruptcy proceeding to preserve part of their credit 
resources.  Another strategy is to reaffirm debts on the 
condition that credit continues to be offered. The creditor, 
confronted with a choice between collecting nothing and 
maintaining your credit, will sometimes choose the latter.  
Be very careful when reaffirming debt. You are not obligated 
to and you should have a new written agreement spelling out 
all of the new conditions. 
Other kinds of non-dischargeable debts can be discharged 
immediately if the creditor does not object If the creditor 
objects, these debts will be judged by the court to be 
either dischargeable or non-dischargeable.  The creditor can 
ask that the debts not be discharged if they claim the 
following conditions existed: 
The debt was acquired by Intentionally fraudulent behavior  
 
Fraud in this case is any dishonest act used to obtain 
credit. Claiming to be someone you are not, or borrowing 
money when you have no means or intention of repaying it, 
would be clear-cut examples of fraud.  Not disclosing 
certain relevant facts could also be construed as fraud.  If 
you make a promise and intend to keep it and believe you 
will be able to keep it, that is not fraud.  Creditors tend 
to be paranoid and believe everyone is defrauding them, so 
this excuse for non-discharge is often used by creditor's 
attorneys. 
Debts Incurred as a Result of False Written Statements  
A blatantly false credit application would qualify.  The 
inaccurate statement must be an important fact and one that 
the creditor relied on in order for the debt to be judged 
non-dischargeable.  A misspelled name or minor error would 
not render a debt non-dischargeable.  Drastically 
overstating income or misrepresent a job title would be 
considered fraudulent. 
Fraudulent usage 
If you charge "luxury goods or services" in an amount over 
$500 within 40 days before filing bankruptcy, the debt is 
likely to be deemed non-dischargeable.  The same is true if 
cash advances are obtained fewer than twenty days before 
declaring bankruptcy.  A lot of small charges, made to avoid 
pre-clearance, would also be considered fraudulent if you 
were over your credit limit or obviously unable to pay. 
Debts resulting from illegal or malicious acts, 
embezzlement, larceny, or breach of fiduciary Responsibility 
 
Any money owed because of illegal acts such as embezzlement 
(taking property left in your safekeeping), larceny (theft), 
or the failure to fulfill your duties as a trustee can be 
non-dischargeable.  The court will usually de a definition 
of fiduciary responsibility. 
Once you've examined your debts and determined what is 
dischargeable and what is not, you can determine whether 
bankruptcy would enhance your current financial situation.  
There are several other things you should know before you 
decide whether to file. 
Exempt Assets
A common misconception about bankruptcy is that you lose 
everything you own to satisfy your debts.  In fact, the 
court will allow you to keep many things essential to your