Some answerers have said that it’s harder to get rid of credit card debt?
What makes filing bankruptcy so hard now?
Is $26,000 credit card debt (written off by creditor; now in collections) and $25,000 student loans enought to qualify for chapter 7 if you gross $25,000 annually?
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on Monday, June 1st, 2009 at 1:39 pm and is filed under Bankruptcy Law.
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June 2nd, 2009 at 9:35 pm
Bankruptcy is hard these days because now the court has the right to convert yout CH.7 into a CH.13 and then you are required to pay back some of the debt. Iit’s not totally wiped clean like before the new rules became effective. BTW, some student loans, alimony and child support are not elligible for a BK filing.
June 5th, 2009 at 2:30 am
nope. they’ll advise you to seek consumer credit counseling and work out a payment plan for the student loan.
June 5th, 2009 at 4:49 am
filing fees doubled. also lawyer fees because of increased paperwork. plus 6 mos. credit counciling at your expense. then theres the means test if you can make payments theyll take it for up to 5 yrs. dividing the $ between your creditors. a percentage. from what i understand student loans cannot be disharged. along with some other types of debt.