Getting student loans discharged in a Chapter 7 bankruptcy case is very difficult. For the most part, you must show that repayment would cause you "undue hardship."
Even if you can’t afford an attorney, help might be available through friends and family, legal aid societies, free legal clinics, or pro bono (free of charge) attorneys. Learn strategies for paying for bankruptcy legal fees.
If your income drops and you can’t pay your Chapter 13 payment, it’s possible to convert to Chapter 7 bankruptcy and discharge qualifying debts quickly. But because it isn’t always possible, you’ll want to explore other options as well.
Most Chapter 7 filers receive a discharge about sixty days after the 341 meeting of creditors. Cases usually close a few days later, although some remain open longer. Learn how to avoid problems after the creditors meeting.
Whether you can keep your savings, checking, or other bank accounts in bankruptcy will depend on whether you can cover the balance with a bankruptcy exemption. If not, you'll likely lose it. Learn why.
Generally, whether your bankruptcy will affect your spouse will depend on whether you have joint property or debts, the property laws of your state, and whether you file for Chapter 7 or Chapter 13 bankruptcy.
Whether you keep your vehicle in bankruptcy will depend on whether you file for Chapter 7 or Chapter 13 bankruptcy, whether you’re behind on your car payment, and whether you can protect all of the vehicle equity with a bankruptcy exemption.
Question: I have been in Chapter 13 bankruptcy for over two years. But I recently received a pay cut and can no longer afford my current Chapter 13 plan payment. Is there anything I can do to reduce my monthly payment amount?
Learn why keeping a credit card in Chapter 7 bankruptcy is unlikely and why you should plan on rebuilding credit after completing a Chapter 7 bankruptcy case.