I represent individuals in Chapter 7 and Chapter 13 cases filed in the Northern District of Georgia, which includes Atlanta, Newnan, Gainesville and Rome. I publish several informative web sites, including https://www.atlanta-bankruptcy.com and an Atlanta bankruptcy blog, https://www.thebklawyer.com/thebkblog. Please mention Bankruptcy Law Network when you call.

 

Author: Jonathan Ginsberg, Esq.

06 Nov Can Bankruptcy Help Solve Your Student Loan Problem Even if Your Student Loan Debt is Non-Dischargeable?

using bankruptcy to stop student loan collectionsAs a general rule, student loan debt is non-dischargeable. Bankruptcy Code Section 523(a)(8) provides that unless you can show “undue hardship” your student loans will survive your discharge. As my colleague Craig Andresen recently wrote on this blog, the Brunner case, which is the authoritative case defining undue hardship makes it almost impossible to meet this standard. Craig points out, correctly, that Brunner was decided at a time when the Bankruptcy Code did allow older (more than 7 years old) student loans to qualify for discharge based on their age and that the time has come to change this extremely difficult to meet standard. In any case, the harsh Brunner standard remains the law of the land and unless and until Congress or the Supreme Court changes it, student loan borrowers who are not on their deathbeds are going to have to find other ways to deal with crushing student loan debt.
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06 Aug Chapter 7 Debtor Waits Four Years for Trustee to Release his Money

chapter 7 trustee delaysYou may be wondering what happens if you file Chapter 7 bankruptcy and you own assets that cannot be exempted or sheltered under the applicable exemption laws in your district. There may be instances where you need to file bankruptcy to stop a pending lawsuit but you do not have the income to support a Chapter 13. Chapter 7 functions as a liquidation type of bankruptcy. While it is true that most Chapter 7 debtors have no assets to liquidate (because those assets fit within the exemption provisions of the bankruptcy laws) there are some cases where the Chapter 7 trustee must function as a liquidation asset. A client of mine here in Atlanta faced this situation several years ago. He was employed at a relatively low paying job but had well over $50,000 in credit card and other unsecured debts. After we filed, my client discovered that he was a beneficiary of his great aunt’s estate - his portion was just over $20,800. Under the Georgia exemption law, my client had a potential “wildcard” exemption of $5,400. We had used up $3,200 in the original filing, meaning that there was $2,200 of the exemption left. I filed an amendment to Schedules B and C of his petition to declare the $2,200 as exempt. This meant that my client would participate in the liquidation of the bankruptcy estate.
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06 May Do You Need Exact Debt Balance Amounts to File Chapter 7 or Chapter 13 Bankruptcy?

no need for exact debt balances when filing Chapter 7 or Chapter 13You may be putting off filing for Chapter 7 bankruptcy or Chapter 13 debt consolidation because of concern about not having the exact debt balances due on your credit cards and other debts. After all, bankruptcy involves a federal court filing under penalty of perjury. Let me reassure you that you do not need to worry or delay your bankruptcy filing if you are only able to estimate the balances due. It is far more important to have the accurate name and correspondence address for your creditors. When you file bankruptcy - and this holds true whether you file Chapter 7 or Chapter 13 bankruptcy - your case filing includes something called a mailing matrix. The matrix comprises a list of all of your creditors and creditor representatives (collection agencies or lawyers) who will get notice of your bankruptcy filing.
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