Do you have non-dischargeable debts?
Remember, bankruptcy does not alleviate student loan debt. There are other types of debt, too, that you may still be obligated to pay, such as a mortgage lien. Declaring bankruptcy will not alleviate you of any child support, government debt or alimony obligations. Because of all of the disadvantages that go along with declaring bankruptcy, it’s crucial to make sure you have exhausted every opportunity to repay your debts before deciding to file. If you have these kinds of debts, declaring bankruptcy should be your absolute last resort.
