cc/9Q3G-65WV] (noting bankruptcy does not discharge student loan debt unless court finds undue hardship); Patrick Lunsford, Court Ruling May Pave Way for Some Student Loan Discharge in Bankruptcy
, INSIDEARM (Aug.
91) Among those exceptions, the most common debts that are prohibited from discharge in bankruptcy
are debts incurred by fraud or false representation, (92) child support obligations, (93) alimony obligations, (94) federal taxes or tax penalties, (95) and federal student loans or other educational loan obligations.
This means that if C holds an IRA, the IRS could levy on the account after her discharge in bankruptcy
(Iannone, 122 T.
If joint debts are involved, a discharge in bankruptcy
for one spouse will not eliminate the responsibility of the spouse who does not join in the bankruptcy filing.
Now the discharge in bankruptcy
acts as an injunction against future collection efforts.
Such a right is not a claim in bankruptcy and, as such, is not subject to discharge in bankruptcy
As noted above, the availability of discharge in bankruptcy
legislation may create a perverse incentive for a debtor to resort to the bankruptcy regime, not for its intended objectives, but to gain the benefit of discharge.
There are no dischargable claims against a corporation, as the corporation is not entitled to a discharge in bankruptcy
A discharge in bankruptcy
shall release a bankrupt from all of his provable debts, whether allowable in full or in part, except such as
Otherwise, the court reasoned, the exceptions to discharge in bankruptcy
would become open invitations to attempt to trace all bank loans to unpaid payroll taxes regardless of how and when the debt was originally incurred.