By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7We have discussed the Means Test in detail in this post. “Passing” the Means Test is the key to qualifying for Chapter 7 Bankruptcy, which is a much better option than Chapter 13 for many people. It allows people to get in and out of Bankruptcy in a few months, with no 3-5 year payment… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7As we discussed in this post about the discharge of student (or educational) loans, most courts apply some version of the Brunner Test in determining whether a student loan should be discharged because of undue hardship. The Brunner Test is named after a 1987 case in the Second Circuit Court of Appeals, Brunner v. New… Continue Reading
By Scott Riddle Posted in Chapter 13,Chapter 7As we go along with this Blog we will discuss cases about one of the most important financial issues of our day – student loans. We know from this post that they are difficult to discharge in Bankruptcy, although there is a reason that we should probably try more than we do to get them… Continue Reading
By Scott Riddle Posted in Chapter 7Student loans are one of the most important financial issues of the day, and as discussed in this post, are hard to discharge in Bankruptcy. The test of “undue hardship” is definitely a high bar, and depends on the specific facts of the case. Because of this, we will occasionally discuss cases in which Courts… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7One thing that Bankruptcy lawyers generally agree on is that it is very difficult to get a discharge of student loans and other educational obligations under the Bankruptcy Code and the cases that interpret the law. We discussed the legal test in this post, and under the law we often say that a discharge takes… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7Student loans have become a huge burden in the United States. Recent statistics show that current outstanding student loan debt is more than $1.1 Trillion. That is “Trillion” with a “T.” We can point our fingers in many directions to cast the blame for this high number, including lenders, borrowers, schools, and the federal government,… Continue Reading