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.