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Schedule of assets and liabilities

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Reference no: EM131204730

These debts are not discharged by bankruptcy:

  • Income taxes for the three years prior to filing and property taxes for the prior year
  • Money obtained fraudulently
  • Any loan of more than $600 that a consumer uses to purchase luxury goods within 90 days before the order for relief is granted
  • Cash advances on a credit card totaling more than $875 that an individual debtor takes out within 70 days before the order of relief
  • Debts omitted from the Schedule of Assets and Liabilities that was filed with the petition, if the creditor did not know about the bankruptcy and therefore did not file a proof of claim
  • Money that the debtor stole or obtained through a violation of fiduciary duty
  • Money owed for alimony, maintenance, or child support
  • Debts stemming from intentional and malicious injury
  • Fines and penalties owed to the government
  • Liability for injuries caused by the debtor while operating an automobile under the influence of drugs or alcohol
  • Liability for breach of duty to a bank
  • Debts stemming from a violation of securities laws.
  • Student loans can be discharged only if repayment would cause undue hardship

What is the logic behind making these debts non-dischargeable?

Reference no: EM131204730

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