Difference between revisions of "Nondischargeable debt"
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A '''nondischargeable debt''' is a [[debt]] that cannot be eliminated in [[bankruptcy]]. Examples include a home [[mortgage]], debts for [[alimony]] or [[child support]], certain taxes, debts for most [[government]] funded or guaranteed educational loans or benefit overpayments, debts arising from death or personal injury caused by driving while intoxicated or under the influence of drugs, and debts for restitution or a criminal fine included in a sentence on the debtor's conviction of a crime. | A '''nondischargeable debt''' is a [[debt]] that cannot be eliminated in [[bankruptcy]]. Examples include a home [[mortgage]], debts for [[alimony]] or [[child support]], certain taxes, debts for most [[government]] funded or guaranteed educational loans or benefit overpayments, debts arising from death or personal injury caused by driving while intoxicated or under the influence of drugs, and debts for restitution or a criminal fine included in a sentence on the debtor's conviction of a crime. | ||
| − | Some debts, such as debts for money or property obtained by false pretenses and debts for fraud or defalcation while acting in a [[fiduciary]] capacity may be declared non-dischargeable only if a [[creditor]] timely files and prevails in a non-dischargeability action. [[ | + | Some debts, such as debts for money or property obtained by false pretenses and debts for fraud or defalcation while acting in a [[fiduciary]] capacity may be declared non-dischargeable only if a [[creditor]] timely files and prevails in a non-dischargeability action. [[Category:Legal Terms]] |
Latest revision as of 21:00, April 23, 2008
A nondischargeable debt is a debt that cannot be eliminated in bankruptcy. Examples include a home mortgage, debts for alimony or child support, certain taxes, debts for most government funded or guaranteed educational loans or benefit overpayments, debts arising from death or personal injury caused by driving while intoxicated or under the influence of drugs, and debts for restitution or a criminal fine included in a sentence on the debtor's conviction of a crime.
Some debts, such as debts for money or property obtained by false pretenses and debts for fraud or defalcation while acting in a fiduciary capacity may be declared non-dischargeable only if a creditor timely files and prevails in a non-dischargeability action.
