If you’re thinking about filing for Chapter 7 Bankruptcy, then you might think that all of your debts can be discharged. Whilst most of them can be included in your petition, there are some debts not covered by Chapter 7 Bankruptcy.
Here are the 10 debts not covered by Chapter 7 Bankruptcy in Minnesota.
1. Debts caused by deliberate personal injury or property damage
If you have deliberately hurt somebody, or damaged their property, then the amount you owe to put right your wrongs cannot be included in your Chapter 7.
2. Debts caused by crime
If you’ve run up debts through committing crimes such as fraud, embezzlement or larceny, then you can’t add these to your petition.
3. Debts for alimony, maintenance or support
Except in very specific circumstances, you will need to still pay alimony, maintenance or support if you owe it.
4. Debts obtained by fraud, false pretences, or false financial statement
If you’ve run up debts by obtaining credit through fraud, false pretences or false financial statement, such as buying:
- Luxury goods
- Professional services
- Cash advances
within 60 days of filing your Chapter 7 bankruptcy, then you can’t include them.
5. Debts that aren’t listed on your Chapter 7 filing
You can’t suddenly ask for debts to be covered that you didn’t mention on your petition.
This is why it’s so important to use an experienced Minnesota Bankruptcy Attorney, so that they can help you make sure that you’ve listed all your creditors, no matter how big or small your debt is.
6. Debts that were not previously discharged
If you have filed for Chapter 7 bankruptcy previously, and you failed to mention a debt, or a debt was not discharged, then you can’t expect it to be discharged this time.
7. Home Association Fees
If you owe home association fees for the upkeep and maintenance of your home, then those that arose before your Chapter 7 bankruptcy can be included. However, you still need to pay those fees due after you filed your bankruptcy.
However, depending on your circumstances, and whether you intend to give your house back to your lender, you might want to wait for your lender to foreclose.
8. Most fines and penalties
Most fines or penalties that you might owe can’t be included in your filing, and so you will have to pay them.
If you do have fines or penalties to pay, mention them to your bankruptcy attorney, as some can be included.
9. Student loans
Student loans can’t be included in your Chapter 7 as a rule.
However your bankruptcy attorney might be able to prove that paying back your student loans would cause you or your dependents unbearable hardship, and so could include them.
Certain taxes cannot be included in your Chapter 7 Bankruptcy, including those that were due within the last 3 years.
Your bankruptcy attorney will be able to inform you which taxes can and can’t be included.
Now you know some of the main debts that can’t be included in a Chapter 7 bankruptcy, you can be confident that your discharge will include your main debts.
The expert help and advice of a Minnesota Bankruptcy Attorney will provide you with the most up to date and accurate information on which debts you can or can’t include.
If you need help and advice to see whether filing for Chapter 7 bankruptcy is right for you, why not fill out our Free Bankruptcy Evaluation form or Contact Us at 612.824.4357 now to speak to an experienced Minnesota bankruptcy attorney today?