Option 14. CHAPTER 13 BANKRUPTCY
Q: WHAT DEBTS ARE NOT DISCHARGEABLE?
With some exceptions, the following debts remain even after bankruptcy:
· Child support & alimony
· Student loans that became due less than 7 years ago
· Federal and state income tax obligations less than 3 years old
· Debts for restitution from criminal convictions and drunk driving
· Debts the bankruptcy court decides where from intentional acts, fraud or wrongdoing (e.g., lying on your bank loan application).
Q: WHAT IS CHAPTER 11 BANKRUPTCY?
Chapter 11 is reorganization for businesses and individuals with debts too large for Chapter 13. … Read the rest