Considering Bankruptcy? Some Debts Remain After Filing

Apr 20, 2016 | Bankruptcy, Chapter 7 Bankruptcy, Credit, Student Loans

Bankruptcy is a terrific tool for eliminating debt. You can get rid of all kinds of credit card debt, medical bills, old auto repossessions, personal loans, and other unsecured debt.

Bankruptcy also stops creditors in their tracks. Is someone trying to repossess your car? Are creditors harassing you constantly? Is someone trying to foreclose on your home? File for bankruptcy and get protection.

Bankruptcy also keeps us from having a debtor’s prison. Would you like to live in a country where you go to jail if you can’t pay your credit cards? We have bankruptcy for just that very reason. It’s why it’s part of the constitution!

But as powerful as bankruptcy is, there are some things it just can’t do.


Bankruptcy typically will not eliminate mortgage debt if you are planning on keeping your home. There are some cases where a second mortgage can be eliminated, but this usually only happens if your mortgage is up-side-down. Also, bankruptcy can help you keep your home when it’s in foreclosure.

Student Loans

There are some circumstances where a student loan can be eliminated or at least reduced when filing for bankruptcy. Unfortunately, this happens only under certain circumstances. For most people who file for bankruptcy, they still owe the full balance of their student loans after filing.


Older tax debt can often be eliminated when you file for bankruptcy. But recent tax debts from the last three years will remain after filing. You will have to work with the IRS to get these paid off after your bankruptcy.

Alimony and Child Support

Alimony and child support awarded by the court simply cannot be eliminated when filing for bankruptcy. And remember the comment about not having a debtor’s prison in the United States? If you don’t pay your child support for long enough – guess what… you go to prison.

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You can contact an experienced bankruptcy attorney at Meyer Law for a free consultation.

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