Do I have to file bankruptcy on all of my debts?

Even if you're drowning in some kinds of debt--overloaded credit cards, medical bills--you might have some debts that you want to pay or need to pay.  Let's say you borrowed money from a friend and you feel strongly obligated to repay that debt, no matter what.  Or maybe you make monthly payments on your car loan and you need the car to get to work.

Often people wonder if they can just file bankruptcy on some of their debts.  The answer is no.  But that doesn't mean you can't pay the debts you want to pay.  Bankruptcy law says you have to list everyone you owe money to.  You sign your bankruptcy papers under penalty of perjury, so it's very important that everyone gets listed, no matter if you are current on payments or want to keep paying.  

By being listed on your bankruptcy, all of your creditors will get sent notice of your filing.   You won't be legally required to repay any debts discharged in your bankruptcy, but you can choose to do so.  So if you want to pay back a friend or family member, that's fine.  (Just don't do it before you file bankruptcy--that's a subject for another post).  If you want to keep making car payments or house payments, that is fine.  You have several options for secured loans like this (also a good subject for another post).