Student loans are NOT usually discharged in a bankruptcy case. However, in some circumstances, these debts can be discharged if the bankruptcy debtor can show that payment of the debt “will impose an undue hardship on you and your dependents.” [ Read More… → ]

The “presumption does not arise” is a statement indicating that a debtor’s income is not such that he or she would be disqualified from filing a Chapter 7 Bankruptcy case.

In a Chapter 7 case, the debtor must prepare Form 22A, the “Means Test” form.  On that form, the debtor lists his or her gross income. If this annualized gross income is less than the amount of the annual “median income” assigned to individuals for the state in which the debtor lives, the ‘presumption of abuse’ does not arise and it is presumed that the debtor is eligible to file a Chapter 7 bankruptcy case. [ Read More… → ]

Sometimes, people begin a pro se (do it yourself) Bankruptcy filing with clear intentions. Sometimes, they initiate the process but do not follow it through to completion. Sometimes, those same people find themselves in the exact same financial situation just a few years later and are in even greater need to file for Bankruptcy.

Typically, Bankruptcy law requires an eight year time span before a person can refile for personal Bankruptcy again. But this time restriction is not always set in stone. [ Read More… → ]

A Bankruptcy debtor cannot file another Chapter 7 for a period of eight years from the date of the previous Chapter 7 filing.

A debtor filing bankruptcy can certainly list real estate taxes as part of the debt that will be discharged, assuming that the debtor is abandoning the home.

However, if it is the debtor’s intention to retain the home, the real estate taxes cannot be discharged in usual situations, and they must be paid by the debtor.

Complete details on Standard Legal’s Bankruptcy legal forms software here.

A reaffirmation agreement is a document used in conjunction with a personal Bankruptcy filing that “restates” or puts the terms of a contract with a creditor back into place, as if the bankruptcy had not been filed with respect to that creditor and that debt/loan. [ Read More… → ]

Debtors are eligible to receive their Chapter 7 discharge 60 days from the date set for the 341 meeting, unless a creditor objects in a timely manner or the court orders otherwise. [ Read More… → ]

A discharge is an Order from the Bankruptcy Court which cancels (i.e. “discharges”) the debts listed by the debtor on the bankruptcy petition and schedules.  Once the discharge is issued, these listed creditors are prohibited from taking any further action to collect on their debts.

In the petition and schedules, a debtor’s income and expense are relevant. And when there is a married couple filing, the debtor’s income and expenses and the spouse’s income and expenses (even if the spouse is not filing) can be relevant.

However, a Bankruptcy petition does not generally inquire about income and expenses of non-spouses. [ Read More… → ]

Standard Legal’s Bankruptcy forms software requires the filer to make decisions regarding the inputs on any form. The legal forms software doesn’t “adjust” any decision-making required; a filing with the Court requires the user to decide who is filing and create inputs accordingly.

However, complete instructions and overviews on these types of requirements and decisions are included in the package.  [ Read More… → ]

If you have already filed your case, removing counsel should be as simple as contacting the Clerk of Court in writing and informing the Court that you no longer care to utilize the services of your attorney. (You can state the reasons for removal or not, as you wish.)

You should also state in the letter that you will proceed with your bankruptcy case pro se and will represent yourself going forward. [ Read More… → ]

Federal law is clear that most student loan repayment obligations are NOT dischargeable in bankruptcy.

While you are free to prepare the bankruptcy paperwork as you see fit and request to have your student loans discharged, [ Read More… → ]

Credit report issues are not covered by Standard Legal, as they fall more to the category of ‘financial’ issues vs. legal issues. To review options available for credit report repair, we suggest you visit the Credit Report Repair page at American Legal Review.

It depends what steps you take in advance of his bankruptcy filing, and what the mortgage company chooses to do.

Generally, going through the refinancing process for any mortgage on a home when a quitclaim deed has been filed is the safest avenue for a homeowner to pursue. When a quitclaim deed is filed, the obligation within the mortgage documents changes essentially: from the couple jointly owning the property, to just one of the original individuals named in the deed. So the mortgage holder has one less person from which to collect payment, thus increasing their exposure. [ Read More… → ]

A debtor in a bankruptcy cannot take advantage of state exemptions to shield any asset from bankruptcy, nor can a debtor sell or transfer assets simply to ‘protect’ them. [ Read More… → ]

The amount of a Chapter 13 bankruptcy plan payment is generally a person’s monthly ‘disposable income.’  This figure can be arrived at by looking at the amounts set forth at the bottom of Schedule I and Schedule J: monthly income, less monthly allowable expenses, equals ‘disposable income.’

These calculations can be determined by properly using Standard Legal’s Bankruptcy legal forms software.

There is no obligation under federal bankruptcy law to remain in a home you own in order to file bankruptcy, whether that home is in foreclosure or not.  You are permitted to move to a different jurisdiction and file your bankruptcy case there. You may also move to a different residence within the same Bankruptcy Court jurisdiction. [ Read More… → ]

To successfully file for bankruptcy, debtors must complete both a Credit Counseling Briefing prior to filing and a Debtor Education Course before a discharge is entered. These courses must be approved by the U.S. Trustee, and failure to file certification that these courses have been completed at the appropriate time may mean that your case is dismissed or your discharge denied. [ Read More… → ]

Under federal bankruptcy law, once a person files a case, creditors are “stayed” from taking any action to collect on their debt.  As long as your Chapter 13 plan is confirmed by the Bankruptcy Court and you make both your Chapter 13 plan payments and your current mortgage payments, the mortgage holder should not be permitted to take any action to foreclose on your home. [ Read More… → ]

Yes! Pro se filers must make the Bankruptcy Court aware of all assets and asset transfers or sales. [ Read More… → ]