Tag: discharge

Student Loan discharge

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| Bankruptcy Filing

Student loans might be discharged through bankruptcy.

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What Does It Mean To Reaffirm A Debt?

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| Bankruptcy Filing

If you file a Chapter 7 and you have a secured debt, often times a car note or a mortgage, you will be asked by the creditor to reaffirm that debt. What does that mean?  When a Chapter 7 debtor reaffirms a debt they agree to continue paying that obligation even after their bankruptcy case […]

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What Does It Mean To Get A Discharge?

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| Bankruptcy Filing

           If you have spoken to anyone before about bankruptcy, they probably told you that they received a “discharge” of their debts.  I have noticed when I am meeting with clients for the first time and I let them know they are eligible for a discharge, often I get a look […]

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Who Can Be Listed As a Dependent?

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| Bankruptcy Filing

A dependent is defined as “someone who relies on another for support; one not able to exist or sustain oneself without the power or aid of someone else.”  This definition matters quite a bit if you are considering filing for bankruptcy.  Times have been rather tough for some Americans as the economy has hit a […]

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Should I Convert My Bankruptcy Case?

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| Bankruptcy Filing

This question may not initially be on the mind of a prospective client when they come into your office, but the situation does come up from time to time when it is in the best interest of the client who originally started their bankruptcy as a Chapter 13 to convert that case to a Chapter […]

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Options for Debtors with Student Loans

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| Bankruptcy Filing

Many debtors considering bankruptcy have a wide variety of types of debt. Debts range from medical bills, to credit cards and pay day loans, to homes and cars, and even student loans. The Bankruptcy Code affords little to no relief for debtors burdened with student loans. The general rule is that student loans are not […]

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I’ve filed Bankruptcy Before, Can I file Again?

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| Automatic Stay, Bankruptcy, Bankruptcy discharge, bankruptcy planning, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Discharge of Debt, Refiling for Bankruptcy

            Yes, you can file bankruptcy multiple times. In fact, there is no limit to the number of times that you can file. However, if you have received a discharge in a previous case, a certain amount of time must pass before you can receive a discharge again. The amount of time that must elapse […]

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Not disclosing and transfer of assets led to denial of discharge

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| Bankruptcy discharge

We learned nothing new from a recent court decision (In re Dandrum, Bankr. D.ND. August 19, 2011): The debtor must take seriously his duties to disclose transfers before filing and to list income and assets accurately seriously or risk denial of discharge (and even more severe consequences). Debtor failed to disclose assets and transfers on […]

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Discharge of Tax debt in Bankruptcy: 3 time rules to remember

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| Tax issues

To be able to discharge a tax debt, the tax needs to be older than 3 years, correct? I think this what normally people including myself normally remember about discharging taxes.  Let’s see on a recent case: 4.8.11 client filed bankruptcy hoping to discharge 2007 income tax. Correct or not? Well, there are full three […]

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