DEBTS - Dischargeable or Exempt? When a petition for bankruptcy is filed, all assets, income, and debts are to be disclosed. Discuss whether the following would/would not be discharged or exempt from a bankruptcy proceeding and why/why not: - a parking ticket - - child support in arrears - a credit card cash advance - a life insurance policy - a vacation cottage in another state - loan balance from employee retirement plan - student loans - attorney fees