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Tag Archives: discharge

Undue Hardship and Student Loans

Prior to the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005, private student loans were dischargeable. However the BAPCPA changed that. It is a general fact that under the Bankruptcy Code, student loans are not dischargeable. However, under certain circumstances debtors strapped with student loans can discharge them through bankruptcy. The exception falls… Read More »

How Does Bankruptcy Deal with a Deficiency Judgment?

Once a court grants a deficiency judgment to the creditor, the creditor may be able to take various actions to collect payment. The creditor can put a lien on your bank account or garnish your wages, depending on state laws. How long does the lender have to obtain a deficiency judgment? That depends on the… Read More »