Non-dischargeable debts
Introduction
Non-dischargeable debts include child support and fines
Although most debts can be discharged in a bankruptcy or an Individual Voluntary Arrangement, certain debts are not dischargeable by individuals. Other debts that are normally dischargeable may be denied a discharge, generally because of the actions of the debtor.
Debts that are non-dischargeable generally fall into the following categories:
- Any fine or penalties imposed for an offence
- Any liabilities arising under an order made in a family or domestic court action such CSA claims for child support
- Any liabilities arising under a confiscation order made under S.1 of the Drug Trafficking Act 1986 0r S.71 of the Criminal Justice Act 1988
- If a claim is not provable it follows that although the creditor will not be able to receive a dividend in respect of it, the debt will at least survive the discharge of the bankruptcy
- Certain claims under the Financial Services Act 1986 and the 1987 Banking Acts are not provable once all creditors have been paid in full
- Most educational loans cannot be discharged as they fall outside of the Insolvency Act 1986.
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IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]