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Can you file an adversary proceeding for a discharge of your student loans if you filed bankruptcy 6 years ago?
Wiki User
∙ 18y ago
It's my understanding that student loans are not discharged by bankruptcy any longer. YOu should check this, though
Wiki User
∙ 18y ago
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Does a judge have to specifically state conditions of undue hardship have been met to discharge a student loan and if so starting when was this required?
Yes, in order to discharge student loans which fall under the criteria in 11 USC 523(a)(8), the Bankruptcy Judge has to specifically declare the repayment of the student loans to constitute an undue hardship on the debtor or a dependent of the debtor in order for the student loans to be discharged. To get the Court to do this, yu have to file an Adversary Proceeding (i.e. a federal lawsuit) against the student loan lender during the pendency of your bankruptcy case. Also, the standard for "undue hardship" is very tough, unless you're like 97 years old or permanently paralyzed, you better plan on paying them!
Student loans and bankrupsy.can they be discharged?
Student loans do not go through the discharge procedure, only bankruptcy's. A discharge takes place six months from the date you filed for bankruptcy. Then you have to wait two years from the date of discharge to apply for a home loan.
What do you need for an adversary proceeding to discharge student loans for hardship reasons?
'Undue hardship' dismissals of student loan(s) decisions are generally based on criteria of the U.S. Court of Appeals 2nd Circuit, Marie Brunner, Appellant vs. N.Y. State H.E.S.C. Very seldom will a lower court allow the discharge of student loans. The exception could be,a disability which will not allow the loan holder to ever earn/have sufficient income for repayment.
Can student loans be discharged in a bankruptsy because of hardships?
Yes, there is a very SMALL possibility that student loans can be discharged in a bankruptcy proceeding and you are correct to say that the reason would be with a very compelling showing of hardship. That being said, this is very uncommon and student loans are typcially classified in a category of nondischargeable debt. A law was passed in 1998 that has made it even more difficult to discharge a student loan in bankruptcy. It is incredibly difficult to discharge a loan in this way, and the only approach is to convince a court that repaying the loan would create a severe hardship for you.
Can you bankrupt your student loans if you have had a previous bankruptcy within the past 4 years?
I didn't get your question. Are you trying to ask if you can able to file bankruptcy again even though you had filed previously one? As far as i know, Student loans won't discharge in bankruptcy. It's better consult this from the bankruptcy advisers.
Will filing for bankruptcy stop the feds from trying to collect a past due student loan from 1981 from your 70 yr old dying mother?
== Unfortunately, no. It will not stop them from garnishing her social security either. However, what needs to be done, ASAP, is to apply for a hardship discharge of the loan. If you can prove that paying back the loan would create an undue hardship, and clearly that would be the case here, then she will qualify for a hardship discharge. The test, known as the Brunner Test is 3-pronged, the debtor must prove: 1) That the debtor cannot maintain, based on current income and expenses, a "minimal" standard of living for the debtor and dependents if forced to pay off student loans; (2) that additional circumstances exist indicating that this state of affairs is likely to persist for a significant portion of the repayment period of the student loans; and (3) that the debtor has made good faith efforts to repay the loans. Student loans cannot be discharged in bankruptcy - you would have to incur the cost to bring an adversary proceeding to go thru the hardship discharge application process during the bankruptcy.
Will filing for bankruptcy reduce the principles on student loans and mortgages?
No, filing for bankruptcy does not discharge or reduce the principle on student loans, though the bankruptcy process may put 'recovery attempts' on temporary hold. Regarding mortgages, filing bankruptcy will potentially discharge your debt, though you may lose your home unless you choose to file a Chapter 13, which will allow you to consolidate debts and retain your home if you so choose.
Can you place educational loans on bankruptcy?
Student loans are exempt from discharge because too many others had the same idea.
At what point in a Chapter 7 bankruptcy is it considered final with no new debts eligible for discharge?
When you file for Chapter 7 bankruptcy, you are responsible for listing all of your debts. Some debts are generally not dischargable (i.e. child support, most taxes, student loans, secured debts, etc.). When you receive a discharge for dischargeable debts, the discharge generally applies to debts listed in your bankruptcy filing and any subsequent amendments. The discharge does not apply to date incurred after you filed bankruptcy and generally does not apply to debts that you failed to list in the bankruptcy.
What is the process in filing an adversary procedure to discharge student loans due to hardship pursuant to USC?
You may be able to get a total and permanent disability discharge since sane people do not solicit legal advice from random strangers.
Can you file bankruptcy on teri loan?
Yes, you can file bankruptcy against a TERI loan. You must file an Adversary Proceeding in order to discharge a Student Loan. It is normally difficult to discharge student loans. TERI has essentially removed themselves from the student loan guarantee business, leaving the loans unguaranteed by a non-profit. This does not mean your loan will automatically be discharged. Upon default, your loan will become owned by the bank whom issued the loan or a trust if it was securitized by First Marblehead. Also, you must past the hurdle of proving your loan is not a "qualified education loan". You need to read up the definition of "qualified education loan" at the IRS or Department of Ed. Essentially, if your school was not a Title IV or expenses were not part of the schools "Cost of Attendance" or you simply were not an "eligible student", then you don't have a "qualified education loan". Your lawyer probably will not help you at all with these details. READ up yourself.
If a cosigner files for bankruptcy does it put the primary signer under bankruptcy too?
No, the primary signer is still liable. But if a loan is not dischargeable, such as a student loan (actually is is extremely hard to discharge), both the primary and co-signer will STILL be liable after the bankruptcy
