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Can Bankruptcy Discharge my Student Loans?

Debt Free Colorado

NOVEMBER 22, 2022

Are my Student Loan Debts Dischargeable in Bankruptcy? Student-loan holders now have a new path to freeing their debt through bankruptcy! Broomfield Bankruptcy Attorney answers questions about the new ruling. In the past, discharging student loans was an almost impossible hurdle in bankruptcy.

Student loans

What Debts Are Not Discharged in Bankruptcy?

Sawin & Shea

OCTOBER 11, 2023

People file for bankruptcy for any number of reasons, from job loss, to unpaid medical bills , to sky-high credit card bills. And it’s not an uncommon event either– roughly 375,000 people filed for bankruptcy in 2022 alone. There are some debts that filing for bankruptcy will not discharge. What do we mean by this?

Bankruptcy

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Chapter 13 Bankruptcy and Student Loans

Sawin & Shea

JULY 14, 2021

Student loan debt can be crippling. Trying to put money towards a house or a car, as well as paying all of your other bills on top of student loan debt, is often exhausting and can sometimes feel impossible. In America alone, the average student loan debt in 2021 comes to around $1.7

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Is It Better To Declare Bankruptcy or Debt Consolidation?

Sawin & Shea

JANUARY 24, 2024

When you are overwhelmed by debt, you may start to wonder if declaring bankruptcy or pursuing debt consolidation is the better option. Understanding the key aspects of each can help you determine what is better, bankruptcy or debt consolidation, for your situation. Any debts not discharged, like student loans, remain.

Debt Consolidation

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Can I Discharge a Private Student Loan in Bankruptcy?

Sawin & Shea

JULY 13, 2022

The majority of people in Indiana who have thought about declaring bankruptcy likely already know how challenging it is to get student loans erased. Although it is not impossible, debtors normally need to pass the Brunner test, which establishes that repaying the student loans will put them in an unreasonably difficult position.

Student loans

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What Happens to Your Credit Score after Bankruptcy?

Credit Corp

MAY 30, 2023

Bankruptcy can happen to anyone—despite their best efforts. And while most people understand that bankruptcy is generally bad for them, many don’t realize the details of how it can impact you. Read below to find out what happens to your credit score after bankruptcy and what you can do to repair your credit afterward.

Bankruptcy

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5 questions to ask before filing for bankruptcy

Roths Child Law

JULY 12, 2023

Bankruptcy is a great process that helps many people recover from overwhelming debt obligations. Are you considering filing for bankruptcy? How often can I file for bankruptcy? People can file for bankruptcy as many times as they wish. Or, a Chapter 7 to a Chapter 13 bankruptcy may require people to wait 4 years.

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How Much Debt is Needed to File for Bankruptcy?

Sawin & Shea

MARCH 9, 2022

When facing bankruptcy, many wonder how much debt is needed to file bankruptcy. There is no minimum amount of debt you need in order to file for bankruptcy, but there are other critical factors you need to take into consideration before filing under Chapter 7 or Chapter 13. Should I File for Bankruptcy?

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Student debt loan forgiveness for people in public service

Roths Child Law

NOVEMBER 16, 2020

Many college graduates in Tennessee are struggling with student loan repayments, and you might be among them. Is public service loan forgiveness for you? Is public service loan forgiveness for you? However, the program has been plagued with problems. Challenges in dealing with the program. One part of the debt puzzle.

Loans

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Debts That Can’t Be Discharged During Bankruptcy

Sawin & Shea

JULY 28, 2021

It’s tempting to believe that filing for bankruptcy is like having a magical wizard wave his wand to make all of your problems disappear. You need to know exactly which debts can be discharged and which debts can’t as you begin the process. Taking that into account, we’ll focus on Chapter 7 Bankruptcy. per every 1,000 people.

Bankruptcy

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What Assets Do You Lose in Chapter 7?

Sawin & Shea

APRIL 10, 2024

Chapter 7 bankruptcy is a great financial solution for those struggling with debt, especially unsecured debts. With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets. For experienced bankruptcy lawyers in Indiana, contact Sawin & Shea, LLC.

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Tenth Circuit Affirms Order Allowing Discharge of Private Student Loans

Troutman Sanders

SEPTEMBER 4, 2020

On August 31, 2020, the Tenth Circuit affirmed the United States Bankruptcy Court for the District of Colorado’s holding that certain student loans not guaranteed by a governmental unit may be discharged in bankruptcy. Thus, an educational benefit is different than a loan.

Student loans

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What debts are discharged in a chapter 7 bankruptcy?

Roths Child Law

DECEMBER 5, 2022

Filing for bankruptcy can be a confusing and difficult process, as well as an emotionally challenging one. A chapter 7 bankruptcy is one of the most common routes individuals take in discharging their debt. A chapter 7 bankruptcy is one of the most common routes individuals take in discharging their debt.

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Unfinished college degrees and the cycle of debt

Roths Child Law

DECEMBER 16, 2020

Many Tennessee residents who have dropped out of college find it difficult to break out of the debt cycle that began while they were a student. At the same time, you may have student loan and credit card debt that is more than you can afford. Bankruptcy could be a solution. Fewer job prospects without a degree.

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Bankruptcy Reform Bill and Student Loans

Sawin & Shea

SEPTEMBER 1, 2021

Student loan debt is one of the heaviest burdens on today’s society. Instead, they are buried under crippling debt, unable even to fathom the possibility of major life milestones such as buying a new home. Today, however, student loans are nearly 35% of the median household income.

Student loans

Bankruptcy Reform Bill and Student Loans

Sawin & Shea

SEPTEMBER 1, 2021

Student loan debt is one of the heaviest burdens on today’s society. Instead, they are buried under crippling debt, unable even to fathom the possibility of major life milestones such as buying a new home. Today, however, student loans are nearly 35% of the median household income.

Student loans

Pros and Cons of Chapter 13 Bankruptcy

Sawin & Shea

DECEMBER 28, 2023

Filing for Chapter 13 bankruptcy can provide much-needed relief if you are overwhelmed with debt and struggling to keep up with payments. While this type of bankruptcy comes with unique advantages, it also does not fit into every situation. What Is Chapter 13 Bankruptcy? Pros of Filing Chapter 13 Bankruptcy 1.

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Student loan companies ‘abusing the bankruptcy system’ will face consequences: CFPB letter

Collection Industry News

APRIL 11, 2022

Student loan companies will face consequences if they mislead borrowers and collect on private debt that has been discharged by a bankruptcy court , according to a letter sent by the country’s top consumer watchdog to Senator Dick Durbin (D-IL) that was obtained by Yahoo Finance. “I Source- site.

Student loans

Maryland Court Discharges Student Debt

PBWT

JULY 1, 2021

Supreme Court declined to revisit the rigid Brunner standard for determining “undue hardship” capable of discharging student debt. The same day, United States Bankruptcy Judge Michelle M. Harner applied the Brunner standard , discharging $178,000 of student debt. ” 11 U.S.C. § Higher Educ.

Student loans

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How are Medical Bills Treated in Chapter 13 Bankruptcy?

Sawin & Shea

MAY 5, 2021

Filing for Chapter 7 or Chapter 13 Bankruptcy: Chapter 7 will wipe out (discharge) your medical debt along with other unsecured debt, but you must have low enough income to pass the means test in order to qualify for it. Chapter 13 bankruptcy is discussed below. Ten facts About Chapter 13 Bankruptcy and Medical Bills: #1.

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How to Get Debt Collectors to Stop Calling after Bankruptcy

Sawin & Shea

FEBRUARY 1, 2023

The time period leading up to filing for bankruptcy is extremely stressful, as you know. Who knows how to get debt collectors to stop calling after bankruptcy? How long after filing for bankruptcy do collectors keep calling? Possibly the information hasn’t yet been processed and had the chance to filter through their system.

Debt collector

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What Is a 1099-C Form and How Does It Affect Your Credit?

Credit Corp

APRIL 26, 2024

Cancellation of debt happens when a creditor discharges or forgives a debt you haven’t paid off. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. A 1099-c cancellation of debt form is issued when a lender forgives or cancels a debt.

Repossession

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Bankruptcy Guide for California – 2023

Direct Recovery

APRIL 17, 2023

California has one of the highest bankruptcy rates in the country, but the majority of consumers here still need to learn more about the process involved to make informed decisions on whether it might be a good option for them. How long will bankruptcy impact your credit? However, the exact opposite is actually true.

Bankruptcy

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What You Need to Know if You Are Retired and Filing for Bankruptcy

Sawin & Shea

JUNE 22, 2022

Since 1991, the number of retirees filing for bankruptcy has tripled , with 12.2% of all bankruptcies being filed by people 65 and older. And student loan payments are often even a burden for senior citizens today. Bankruptcy Options as a Retiree.

Bankruptcy

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10 Common Questions About Bankruptcy

Debt Free Colorado

MARCH 3, 2023

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. The decision to file for bankruptcy is a significant one, and we are here to assist you in determining whether bankruptcy is the best course of action for your circumstances. Do bankruptcies come in different types?

Bankruptcy

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Will Bankruptcy Affect My Spouse?

Sawin & Shea

NOVEMBER 2, 2022

If you’re concerned about the potential impact of bankruptcy on your spouse, you’re not alone. This is one of the top questions married people have about filing for bankruptcy in Indiana. First, you should know that choosing bankruptcy is a smart, proactive way of lifting the burden of overwhelming debt. Bankruptcy Code.

Bankruptcy

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I’m Self Employed: What Are My Bankruptcy Options?

Sawin & Shea

MARCH 30, 2021

Nobody wants to be in a situation where they have to file for bankruptcy, but for the self-employed, it can be a doubly crushing blow. You may even have doubts about whether or not self-employed people are eligible to file for bankruptcy. Before filing for either Chapter 7 or Chapter 13, you will need to take a means test. Chapter 13.

Bankruptcy

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Biden Admin Announces Cancelling Nearly $6 Billion In Loan Debt

Collection Industry News

JUNE 5, 2022

In the first indication that President Joe Biden could be preparing to cancel student loan debt, the administration is prepared to wipe out nearly $6 billion owed by hundreds of thousands who attended a for-profit college chain, a possible trial balloon for the wider loan forgiveness that Democrats have been clamoring for.

Loans

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What is the Difference Between Secured and Unsecured Debt?

Sawin & Shea

JANUARY 25, 2022

Dealing with debt can be scary and overwhelming, especially if you don’t know what will happen if you miss too many payments and default or have to file bankruptcy. While bankruptcy itself can also be scary, it is often the best option if you have too much debt to get a handle on your financial situation. What is Secured Debt?

Unsecured Debt

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What Is a 1099-C Cancellation of Debt Form and How Does it Impact Your Taxes?

Credit Corp

MAY 3, 2021

Debt is considered canceled when it’s forgiven or discharged even though you didn’t pay it back as agreed. Debt is considered canceled when it’s forgiven or discharged even though you didn’t pay it back as agreed. You file for bankruptcy with $60,000 in unsecured debts, which are all discharged.

Repossession

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How Long Does Bad Credit Last?

Credit Corp

JUNE 14, 2023

How long someone has bad credit depends on how long they continue to create negative credit activity. Almost as soon as you start making credit-improving moves, you may see positive impacts in your score. However, old negative activity can still haunt your report for a while after you start improving your credit situation.

Foreclosure

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

JANUARY 23, 2024

On January 19, the Federal Court of Appeals for the Third Circuit ordered the bankruptcy court adjudicating the bankruptcy of FTX to appoint an examiner to investigate the collapse of the digital asset exchange. billion in additional student loan debt relief for 73,600 borrowers. For more information, click here.

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How to Ensure Financial Security in the Future–in 12 Steps

Credit Corp

JUNE 1, 2021

While cards that offer rewards often come with annual fees, it’s possible to find excellent rewards cards with no fees. Depending on where you fall on the Millennial spectrum, you may be just starting in the professional world, starting a family, entering middle management, or even working your way out of debt. Account for a splurge.

Student loans

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Chapter 7 Bankruptcy Timeline

Debt Free Colorado

DECEMBER 7, 2016

Chapter 7 bankruptcy may seem intimidating, but as you can tell from the following infographic, the steps that go into successfully completing your case are pretty straightforward. For those of you who may not be able to view the image, the text follows: Chapter 7 Bankruptcy Timeline. 13 bankruptcy. 13 bankruptcy.