Personal Debts Not Eliminated By Filing Personal Bankruptcy in Fresno
Posted By Price Law Group
Bankruptcy can help you clear your debt and get a fresh start, but not all your debts will be forgiven when you file bankruptcy. Some debts, known as non-exempt or priority debt, must still be repaid. Bankruptcy law offers no protection that will clear these debts, but sometimes allows for the payment plan of a Chapter 13 bankruptcy case to pay off the debts in a three to five your period.
Filing personal bankruptcy in Fresno, California, will eliminate some, but not all personal debt. The following types of debt will not be eliminated by filing bankruptcy in Fresno:
- Most back taxes
- Child support and alimony payments
- Certain student loans
- Purchases of luxury items within ninety days of filing personal bankruptcy in Fresno
- Fines owed to federal or California government agencies
- Debts generated from fraudulent activity
- Recent cash advances of $825 within 70 days of filing personal bankruptcy
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