February 10, 2021

Student Loans Made by Private Lenders Can Be Discharged in Bankruptcy

For years and years, the standard refrain by bankruptcy practitioners to their clients has always been the same when it comes to student loans – they cannot be discharged in bankruptcy unless the debtor proves that it is an “undue hardship” for him or her to have to repay the…

Obtaining new Credit After Filing for Chapter 7 Bankruptcy – Part I

The most common question asked by a debtor contemplating filing for Chapter 7 bankruptcy is whether he will be able to obtain new credit once he files for bankruptcy. The answer is yes, so long as the debtor is employed. If the debtor is unemployed, he will be unable to…

Student Loans Can Be Discharged in Chapter 7 Bankruptcy – The Brunner Test

For years, it has been conventional wisdom that a student loan could not be discharged in bankruptcy. The Bankruptcy Code states that a student loan could not be discharged in bankruptcy unless the debtor shows that it would cause “undue hardship” to except it from discharge. But the standard for…

Obtaining new Credit After Filing for Chapter 7 Bankruptcy – Part II

When a debtor files a Chapter 7 bankruptcy, he is usually doing so in order to put himself back on a sound financial footing. He is not merely just paying an attorney some money to get rid of some debt. For the debtor, an important part of getting back on…

The Effect of the Coronavirus Health Crisis on Chapter 13

When a debtor files for Chapter 13 bankruptcy protection, he is entering into a repayment plan that typically lasts from three to five years. Once the Plan is over, provided that all Plan requirements were met, or the debtor was excused from meeting them, then the debtor is discharged from…

Contributions to 401K Plans After Filing Chapter 13 Bankruptcy

A Debtor Can Continue Contributing Into His 401K Plan Once He Files For Chapter 13 Bankruptcy Protection Prior to October 2005, a Chapter 13 debtor had to discontinue making 401K contributions and 401K loan repayments when he filed for Chapter 13 Bankruptcy. The Bankruptcy Court’s rationale was that this money…

What Constitutes a “Fraudulent” Transfer in Bankruptcy

One of the most important things a debtor attorney must do prior to his client filing for bankruptcy is to investigate whether the debtor transferred any property out of his name within six (6) years prior to the projected filing date of the bankruptcy. Such a transfer is deemed to…

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