Will Bankruptcy Wipe Out All of My Debts?

Yes, with some exceptions. For example, bankruptcy will not normally wipe out:

  • Money owed for child support or other domestic support
  • Most fines and penalties owed to government agencies
  • Most taxes and debts incurred to pay taxes which cannot be discharged
  • Student loans, unless you can prove to the court that repaying them will be an "undue hardship"
  • Debts not listed on your bankruptcy petition
  • Loans you got by knowingly giving false information to a creditor, who reasonably relied on it in making you the loan
  • Debts resulting from "willful and malicious" harm
  • Debts incurred by driving while under the influence
  • Mortgages and other liens which are not paid in the bankruptcy case (but bankruptcy will wipe out your obligation to pay any additional money if the property is sold by the creditor)