Will I still owe money after I declare bankruptcy?

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Will I still owe money after I declare bankruptcy?

Category: BANKRUPTCY FAQ

Perhaps, because bankruptcy does not cover secured creditors – mortgages, car loans, student loans (if it is less than seven years since you ceased to be a full or part time student), fines or penalties imposed by the court, alimony and support payments you must make in your divorce proceedings and debts arising from fraud.

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Posted by Brandon Smith
Tag: Will I still owe money after I declare bankruptcy
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By Brandon Smith

Brandon Smith is a licensed insolvency trustee and Senior Vice-President of Ira Smith Trustee & Receiver Inc. The firm deals with both individuals and companies facing financial challenges in restructuring, consumer proposals, proposals, receivership and bankruptcy.

They are known for not only their skills in dealing with practical solutions for individuals and companies facing financial challenges, but also for producing results for their clients with realistic choices for practical decision-making. The stress is removed and their clients feel back in control. They do get through their financial challenges and are able to start over, gaining back their former quality of life.

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