Under section 80 of Insolvency and Bankruptcy Code, 2016, a person unable to pay a “Qualifying Debt” can apply for “fresh start process” subject to fulfillment of certain conditions. What do you mean by “Qualifying Debt”

A debtor may either personally or through a Resolution Professional may apply for "fresh start process" only on fulfilling specified conditions. Section 80 of the Insolvency and Bankruptcy Code, 2016 states that a debtor who is unable to pay his debt, if conditions are fulfilled, shall be entitled to make an application for a fresh start for discharge of his qualifying debt. "Qualifying Debt" means amount due, which includes interest or any other sum due in respect of the amounts owed under any contract, by the debtor for a liquidated sum either immediately or at certain future time but does 'not' include: An excluded debt; A debt to the extent it is secured; Any debt which has been incurred three months prior to the date of the application for fresh start process. "Excluded debt" means- Liability to pay fine imposed by a court or tribunal; Liability to pay damages for negligence, nuisance or breach of a statutory, contractual or other legal obligation; Liability to pay maintenance to any person under any law for the time being in force; Liability in relation to a student loan; and Any other debt as may be prescribed.