The Law: In 1971 the U. S. Supreme Court in the case of Perez v. Campbell stated under 11 U.S.C. 525(a) of the Bankruptcy Code: "if the debt that caused the suspension of the license was discharged in a bankruptcy, then the license reinstatement could not be denied." What does that mean? Only certain debts can be discharged under [...]
What does Pre-petition vs. Post-petition debt mean in a Bankruptcy? Pre-petition debt is all debt that you have incurred prior to your bankruptcy case being filed. You must list all of your Creditors and debt when you file bankruptcy. Pre-petition debt is the debt that we are expecting to be discharged as part of your [...]
The simple answer is no, but read on. Although Chapter 7 bankruptcy often discharges many types of debts and helps people gain a fresh start. There is a limited list of debts that cannot be discharged. The non-payment of these debts is typically thought of not to be in the general public’s best interest. They [...]
National Association of Consumer Bankruptcy Attorneys (NACBA) needs your compelling student loan debt story!
Have you filed bankruptcy? Is your student loan debt still dragging you down? Share your story! The National Association of Bankruptcy Attorneys (NACBA) is interested in hearing from you! The organization has increased its story collection efforts to help bolster their advocacy, legislative and media programs. They are asking for additional borrower anecdotes for use [...]
The new bail out plan? State unfunded pensions, labor contracts, general obligation bonds – all unsecured debt? The former Speaker of the House is calling for a bill to support state bankruptcies. Should states be able to file bankruptcy? They cannot right now because they are considered sovereign. Proponents of the bill however say that [...]