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What debts are included in a bankruptcy?

 

Posted on Wednesday, May 31, 2006

We are often asked what debts are part of the bankruptcy. The Bankruptcy and Insolvency Act states that all debts are discharged (gone) once your bankruptcy ends except in general for:

- student loans that are less than 10 years old,
- fines, penalties, restitution orders,
- awards for damages in civil court for wrongful death or sexual assult,
- alimony or support,
- debts incurred through fraud or misrepresentation,
- an amount a creditor who didn't know about a bankruptcy would have received if they had been notified of the bankruptcy.

There are always interpretations about what kind of debt does not go away in a bankruptcy. To review your situation in Windsor, please call our Windsor office at 250-8060 or 310-PLAN or email a question.
    
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