Tag archive for ‘bankruptcy discharge’
Sixth Circuit Court of Appeals Looks At Student Loan Hardship Discharge in Chapter 13 Bankruptcy Cases
by Drew Broaddus on 2/26/10 | 0 Comment(s)
As various bankruptcy attorneys have discussed on this site, and as I recently discussed on our firm’s website, student loans are not usually discharged in bankruptcy. However, these debts can be discharged under limited circumstances through a hardship discharge. In the case of Jennifer Cassim v Educational Credit Management Corp., the U.S. Court of Appeals Read more>>
Random Bankruptcy Audits
by Richard Stokan on 2/08/10 | 1 Comment(s)
Since 2006, debtors filing for bankruptcy protection have been subject to random audits. As part of the reforms of the Bankruptcy Abuse and Prevention Consumer Protection Act of 2005 (BAPCPA), Congress required random audits to verify the accuracy and completeness of debtors’ bankruptcy filings. 28 USC 586(f). The targets are randomly selected and average approximately Read more>>
Bankruptcy and Co-signers
by Richard Stokan on 2/03/10 | 0 Comment(s)
Before filing for consumer bankruptcy protection a debtor should consider the type of debt that will be affected. If any debt is secured by a co-signer, filing for bankruptcy could place the co-signer in the position of being compelled to cover the debt.
Regardless of whether a debtor is seeking a Chapter 7 discharge or Chapter Read more>>
Is a Chapter 13 Bankruptcy the Right Choice?
by Richard Stokan on 1/05/10 | 1 Comment(s)
Deciding to file for bankruptcy protection can be a difficult decision. Although a Chapter 7 bankruptcy offers a debtor a faster discharge, filing a Chapter 13 case may be in a debtor’s best interest.
Probably the most common reason to file a Chapter 13 bankruptcy is because the debtor does not qualify for a Chapter 7 bankruptcy under Read more>>
What is a bankruptcy discharge and how often am I eligible to receive one?
by Richard Stokan on 12/14/09 | 2 Comment(s)
A discharge in bankruptcy “wipes the slate clean” by legally relieving the debtor off all obligation to pay certain debts. Remember that if you wish to retain property like a car or home, payments must be made after bankruptcy. The bankruptcy discharge is most effective at eliminating credit card debt, medical bills and old tax obligations. Read more>>
The difficulty in discharging student loans
by Steve Combs on 9/23/09 | 0 Comment(s)
Now I know I’ve written about exceptions to the non-dischargability of student loans in Bankruptcy, and I stand behind what I’ve written. What I wrote was correct and the test of undue burden under 11 U.S.C. § 523(a)(8) is correct. However the practical complications of overcoming this test Read more>>
What are the Tax Consequences of a Bankruptcy Discharge?
by Drew Broaddus on 9/18/09 | 1 Comment(s)
Debts discharged in bankruptcy are not taxable events.
The Dilemma of Student Loans
by Jay Jump on 9/03/09 | 0 Comment(s)
Chapter 13 is one of the most powerful tools for dealing with consumer debt. You can prioritize categories of debt just like in a Chapter 11. I often tell clients that debts are broken down into the following categories when filing Chapter 13 bankruptcy. At the top is costs and administrative fees, then secured debt Read more>>
