Bankruptcy Facts – Don't Be In The Dark

However, bankruptcy can't completely absolve a car loan, a student loan or a mortgage payment. It cannot discharge alimony payments, child support payments, criminal fines, IRS tax debt or court restitution orders. ... Most people who are in debt would preferably try debt consolidation or debt settlement as an alternative to bankruptcy, but only bankruptcy can help people whose homes are in foreclosure, cars have been repossessed, wages have been garnished or who have ...