Some debts are not released in a bankruptcy

September 5, 2017

It is important to know that some debts are not released by a discharge from bankruptcy.

These debts include:

  • Child or spousal support;
  • Court fines arising from an offence;
  • Court awarded damages for wrongful death, sexual assault or intentionally inflicted bodily harm;
  • Debts arising from fraud, embezzlement, defalcation, or misappropriation while acting in a fiduciary capacity;
  • Debts arising from obtaining property or services by way of fraudulent misrepresentation;
  • The dividend amount that a creditor would have been entitled to had the bankruptcy notified his/her creditor;
  • Student loans that are less than seven years old (from the date of finishing school);

There are of course exceptions to the above – for more details contact the office and arrange fro a free consultation.