student loan law changes
debts arising from a divorce order
creditors not notified of the bankruptcy
student loans
you may not discharge all your debt
payroll taxes, the loan that lives forever

I’ve been posting about bankruptcy questions asked most frequently by my clients, and I’ve dealt with questions about the pre-bankruptcy process, procedural issues, and Chapter 13 issues.  But almost all my clients want to know about life after bankruptcy.  Once again, I cannot over-emphasize the importance of consulting your own bankruptcy lawyer because circumstances can [...]

Most of the time, there is no reason to file a Chapter 7 bankruptcy for a corporation or limited liability company.  (We’ll call them both “companies” in this post).  However, there are some instances where filing Chapter 7 for the company makes good sense.
Normally, bankruptcy is about one thing: the bankruptcy discharge order.  The order states, [...]

It is difficult to discharge student loans in bankruptcy.
The House of Representatives passed a bill changing student loan laws, but not their treatment in bankruptcy.
Not yet, anyway.
As it stands, the government subsidizes student loans made by private banks.
That is, private banks would not make student loans, the government, ever looking out for us, decided to [...]

The College Cost Reduction & Access Act went into effect July 1, 2009.  This legislation provides for forgiveness of federally-guaranteed student loans for individuals in certain public service occupations provided they meet certain conditions.
Eligible borrowers must consolidate the loans into an Income Contingent Repayment Plan (ICRP) or Income Based Repayment Plan (IBRP), make scheduled payments [...]

Reaffirmation is one of those strange part of the old bankruptcy code and the new bankruptcy code. (BAPCA)   Over the next few parts I am going to talk about why reaffirmation is bit weird and a little different depending  on what state and what district you are in.
Reaffirmation is the  resigning of  a personal [...]

From time to time I receive emails from men or women who have gone through a divorce and whose ex-spouse has filed a bankruptcy.  They usually want to know if their ex-spouse’s bankruptcy can eliminate obligations set out in a divorce order.
In general, Bankruptcy Code Section 523(a)(5) and 523(a)(15) except from discharge debts arising from [...]

You should not panic if all your creditors did not file a proof of claim in your chapter 13 bankruptcy.  There are many reasons creditors don’t file claims.  If you have given proper notice to all your creditors,  all your dischargeable debts, including unfiled claims, will be discharged upon the completion of the plan.  If [...]

More student loans are not dischargeable in bankruptcy than ever before and the definition of student loan has been expanded to include private loans and expenses that are not “loans” in the traditional sense of the word loan.
The changes came after Congress passed the s0-called bankruptcy reform act in 2005 known as the Bankruptcy Abuse [...]

Do you think you could owe twice as much as you thought on your car loan? It could be true, if your car loan is owed to a credit union, you owe a large credit card balance to the credit union, and if the dreaded “cross collateral clause” is lurking in the fine print of the car [...]