Can student loans be discharged in Bankruptcy? The answer is sometimes. Different factors come into play such as is the student loan federal or private, is there a hardship, what type of institution the student attended and for what purpose was the money used.
Month: March 2023
Is a need to file for bankruptcy your fault?
If you find yourself facing overwhelming debt and you’re considering using bankruptcy to get out of it, are you the one who put yourself in this position? Probably not.
FILING AN EMERGENCY BANKRUPTCY PETITION
While filing a bankruptcy generally requires that you provide your attorney a lot of infomation regarding assets, liabilities, income and expenses along with doscuments like paystubs, bank statements and tax returns, and that you complete a credit counseling course that takes approximately one hour, it is still possible to file a Chapter 13 to stop the sheriff sale by filing an emergency (skeleton) petition and schedules.
Increasing Bankruptcy Expense Limits Under the Means Test
Even if your income and expenses, with this add-on, still results in the need to file a chapter 13 and pay something to your creditors, your payments will be less than they would have been