Tag Archives: discharge
Bankruptcy Petition Preparers


  Bankruptcy petition preparers offer an option sort of like a guy in a trench coat selling wrist watches.  Bankruptcy petition preparers are not attorneys but offer ‘document preparation services’.  With a word processor and a computer, pretty much anyone can create a pile of paper. But a troublesome issue looms where bankruptcy petition preparers create [...]

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bankruptcy exemptions


People sometimes talk about “putting things into” a bankruptcy, or “not putting something into” their bankruptcy.  In reality, bankruptcy law requires full complete truthful disclosure of all assets, income and debt. Often, various issues can be addressed in a beneficial manner as long as there is full disclosure.  But, when people play ‘hide and seek’ [...]

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charge off

Charge Off: What is it? Do I Still Have to Pay Charged Off Debt?

  A “Charge off” is an accounting device used by creditors.  Generally, if a debt has not been paid for 180 days or more, the original creditor will write off your debt, removing it from their books.  It does not mean that the debt no longer exists or that you no longer have the obligation [...]

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Means Test Chapter 7 Bankruptcy

BANKRUPTCY: Means Test – Chapter 7

The Chapter 7 means test determines whether people are eligible to file chapter 7 bankruptcy relief. Failing the test requires filing a chapter 13, filing no bankruptcy or taking a closer look. First Step To Chapter 7 Means Test The first step is simple math. Add all gross income in the household during the six [...]

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Graduating to Student Loan Debt

Discharge of Student Loans in Bankruptcy: Exception to Rule

Discharging student loans in bankruptcy occurs only as an exception to the rule.  Chapter 7 bankruptcy discharges garden variety unsecured debt, largely credit cards.  But, student loans are different. To discharge student loans there must be proof that payment imposes an undue hardship as defined in bankruptcy law.  Many courts follow a three part test: [...]

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Should I File Bankruptcy? What Basics Should be Considered?

Should I file bankruptcy?  Just the thought can overwhelm.  Mountains of debt, collections and other pressing issues bring the issue into view, requiring a look at pros and cons. First, calculate how long it will take to pay off your debts.  Throw all credit cards in a drawer.  Figure how much over the minimum payments you can make [...]

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Towing Cars in the Name of Security by @mjb on Flickr

Keeping Cars in Bankruptcy

Is keeping cars in bankruptcy possible while still discharging credit card debt?  We want to file a chapter 7 bankruptcy.  How do we tell if we make too much money to even file a chapter 7? Whether or not bankruptcy filers can keep any individual piece of property depends on many factors, including how much property [...]

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