CFPB recommends private student loans to be
dischargeable in bankruptcy.
156 [micro]g P/L for Site 1) by the corresponding potentially
dischargeable GW (e.
The act also increased the number of exceptions to
dischargeable listed under Bankruptcy Code Sec.
The National Gypsum court found that conduct that could be fairly contemplated would give rise to
dischargeable claims in bankruptcy, while conduct not so contemplated would not.
In return for turning nonexempt assets over to the trustee, the debtor is discharged from all
dischargeable debts (which are most of the debtor's debts).
We have filed a request with the bankruptcy court to be relieved from the stay because punitive damages are generally not
dischargeable in bankruptcy,'' Johnson said.
Mike Hammett, the Post's director of industrial relations, said the arbitrator held that Arno's actions were a
dischargeable offense, but ruled that he suffered from medical problems.
Because the judgments are for intentional crimes and torts, they are generally not
dischargeable in bankruptcy and are almost always renewable--there is no time limit for collection.
The tactic that one can conjure is that by refusing to pay claims and forcing the archdiocese into bankruptcy, the insurance companies may expect that the plaintiffs would prove intentional misconduct, which would not be
dischargeable in bankruptcy," meaning it couldn't be wiped out as a debt, Pasternack said.
No form of student loan is
dischargeable in bankruptcy, although in February Senator Durbin reignited his push to reform the bankruptcy code treatment of private student loans.
The bankruptcy court granted the IRS's motion for summary judgment, concluding that the Mallos had not filed a tax return, and, therefore, the Mallos' respective tax debts were not
dischargeable.
Nowadays most student loan debt is insured by the United States Department of Education, or other governmental units such as Sallie Mae, which make this type of loans generally
dischargeable.
Student loans are now generally not
dischargeable through bankruptcy, and it is fairly difficult to satisfy the requirements for an undue hardship petition, which generally requires demonstrating that you made a good faith effort to repay the debt, that you will not be able to maintain a minimal standard of living and still repay the debt, .
For instance, bankruptcy law protects child and parent creditors by providing that domestic support obligations are not
dischargeable in bankruptcy.
Unlike credit cards and other unsecured loans, government-insured student loans are not
dischargeable in bankruptcy court, possibly subjecting the borrower to years of wage garnishment until the debt is satisfied.
