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Is it true that I can wipe out all of my bills?
The underlying policy of bankruptcy law is that the honest debtor who is
in debt beyond his/her ability to repay the debt should be given a fresh start through the discharge of debts in a
bankruptcy proceeding. Not all debts are dischargeable. For example, the following debts are generally not
dischargeable: taxes; spousal and child support; student loans; criminal fines and penalties; debts arising out of willful or
malicious misconduct; liability for injury or death from driving while intoxicated; nondischargeable debts from a prior
bankruptcy. Those debts, which are secured, may be discharged; however, the creditor will probably take the necessary
legal steps to take back the property.
Updated: 10/13/99
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