Bankruptcy does not get rid of all debts. You are still responsible for:

• Alimony
• Child support
• Most recent back taxes
• Most student loans
• Recent large purchases of more than $550 for luxury goods bought within 90 days of filing
• Fines or penalties of government agencies
• Fraudulent debts
• Cash advances of $825 within 70 days of filing

On April 20, 2005, the President signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act, which limits individual access to US bankruptcy courts. Some of the changes, which were effective October 17, 2005, included:

• New bans on Chapter 7
• Increased Chapter 13 payments
• New presumptions against debtors with increased penalties
• The reduction of judicial discretion to balance competing interests