What creditors can and cannot be discharged with bankruptcy?

Exemptions under Federal law, which may cahnge a littel in State applications by the Federal BK Court you file in:

Personal and Real Property:

(1) Household: Up to $425.00 per item not to exceed a total of $8,625.00 (includes animals, appliances, books, crops, furnishings, household goods, clothing, musical instruments)

(2) Jewelry: Up to $1,075.00

(3) Vehicles: Up to $2,575.00

(4) Work tools (implements, books and tools of trade): Up to $1,625.00

(5) Health aides (wheelchair, etc.): Unlimited

(6) Burial plot: Up to $16,500.00 (in lieu of real estate exemption)

(7) Real estate (house, co-op or mobile home): Up to $16,150.00

(8) Any property: Up to $8,075.00 of unused portion of real estate exemption

Wages, Pensions, Recoveries and Benefits:

(1) Wages: None

(2) Wrongful death funds: Amount needed for support

(3) Personal injury funds: Up to $16,500.00 (excluding that for pain and suffering or pecuniary loss)

(4) Lost earnings payments: Unlimited amount

(5) Retirement benefits: Amount needed for support

(6) Alimony / child support: Amount needed for support

(7) Unemployment compensation: Unlimited amount

(8) Veterans benefits: Unlimited amount

(9) Social security benefits: Unlimited amount

(10) Public assistance: Unlimited amount

(11) Crime victims compensation: Unlimited amount


(1) Disability: Unlimited amount

(2) Unemployment benefits: Unlimited amount

(3) Unmatured life insurance: Unlimited amount

(4) Life insurance policy loan value, dividends or interest: Up to $8,625

(5) Life insurance proceeds: Amount needed for support

If you're doing a Chapter 7 bankruptcy, you can't discharge: * Taxes and tax liens * Student loans * Domestic support obligations (child support and alimony) * Luxury goods over $500 purchased within 90 days of filing * Fines or penalties of government agencies * Cash advances of more than $750 taken within 70 days of filing * Fraudulent debts * Willful or malicious injury to another * Death or personal injury from the operation of a motor vehicle, aircraft or vessel while intoxicated * Condominium or cooperative association fees * Debts not listed on your schedules Debts arising from fraud or maliciousness are not automatically excepted from discharge. The creditor must make a request to the court to except these types of obligations; otherwise they will be discharged.