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October 2015 Archives

We can help Boston clients plan around non-dischargeable debt

Several of the last posts have discussed how student loans work in bankruptcy. Basically, a student loan debt, under current law, is a non-dischargeable debt, meaning that even if a family from the Boston area goes through the bankruptcy process, it will remain the debtor's full responsibility.

Feds support current bankruptcy rules on federal student loans

The federal government is sending mixed signals about whether or not it supports the repeal of bankruptcy legislation that, as it stands, prevents a Boston-area debtor from getting debt relief from student loan debts in most circumstances.

Is it really true that you can't discharge a student loan debt?

Many people in the Boston area, including some professionals, may believe that it is legally impossible to discharge a student loan debt in bankruptcy, no matter what a debtor's income and debt obligations are. In truth, however, it is harder to discharge a student loan debt than it is to discharge an ordinary debt, but it is certainly not altogether out of the question.

The Chapter 7 'means test'

Although the means test has been part of a Chapter 7 bankruptcy filing for around a decade now, many residents of Salem, Massachusetts, who are contemplating a Chapter 7 filing may still not entirely understand how the test works.