What debts do I have to pay?

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Updated: 4/13/2007 3:35 pm
Although filing Chapter Seven bankruptcy immediately imposes an 'automatic stay' on most of your debts, there are some that are called 'nondischargeable,' meaning that you'll have to pay them. Most debts for luxury items that were incurred just before you filed, or any unnecessary debt shortly before filing, are not dischargeable if the creditor objects. You can't discharge debts that you've incurred within 60 days of filing bankruptcy if they are 1000 dollars or more to any one creditor for luxuries, or debts for cash advances in excess of 1000 dollars. Debts you incur AFTER filing will not be discharged. Under federal law, there are eight categories of nondischargeable debt: debts you don't choose to list in your filing papers; student loans; most federal, state, and local taxes, money borrowed or charged on a credit card to pay those taxes; child support, alimony, and debts incurred in the support; criminal fines imposed on you; fines or other debts as a result of a drunk-driving conviction; dues or other money owed to your condo or co-op (COE-op) association; and debts from previous filings that were dismissed because of fraud.

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