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Blog Posts in January, 2015

  • On Thursday January 22, Maryland Democrat Rep. John Delaney introduced legislation that would allow student loan debt to be discharged in bankruptcy. The proposed bill - the Discharge Student Loans in Bankruptcy Act (H.R. 449) - aims to close what Delaney has called a "huge loophole in bankruptcy law that's hurting real people." Under current bankruptcy law, student loan debt is ...
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  • 2015 Chapter 13 Debt Limits

    | 12-Jan-2015

    Under the U.S. Bankruptcy Code, any person who files bankruptcy will be required to have their financial situation evaluated in order to determine if they are eligible to file Chapter 7 or Chapter 13 bankruptcy. As part of this evaluation, the bankruptcy court will look at a consumer's total debt, and will generally not allow consumers to file Chapter 13 if their debt exceeds a certain limit. ...
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  • Preparing for the Bankruptcy Meeting of Creditors

    | 5-Jan-2015

    When you file bankruptcy, you will be required to make an appearance in the case. This appearance is known as a meeting of creditors, or a 341 meeting / hearing. The meeting of creditors typically takes place about 30 days after you've filed and doesn't last very long; it's usually less than 10 minutes. The meeting is also not conducted in a courtroom or by a judge. During the meeting ...
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