PPT-Student Loans and Other Debts Not Dischargeable in Bankruptcy

Lon A Jenkins Standing Chapter 13 Trustee for the District of Utah ljenkinsch13utorg With thanks to Hon Kevin R Anderson 1 Discharge in Bankruptcy Why it Matters For most debtors obtaining a discharge is the primary goal of filing bankruptcy discharge is the foundation upon which all other portions of the Bankruptcy Code are built . List your debts from smallest to largest your minimum monthly payment and the total amount you owe on each one Each month you will pay the minimum amount due on every bill accept for the one at the top Your top bill the smallest one will be the big Mortgage Deficiency Basics . Chapter 7 and Chapter 13. What is bankruptcy?. Federal court process by which a debtor can discharge or reorganize their debts. . Intended to provide the honest but unfortunate debtor with a “fresh start.”. Financial Aid PLP. Financial Aid Office. Discharge of Loans for Death . Discharge of Loans for Total and Permanent Disability. Discharge of Loans in Bankruptcy. Income-Based . Repayment . Federal Student Loan Forgiveness. : . Introduction, History. © Charles Tabb 2010. Front-Page News. Scandal. $600 Billion. Charles . Ponzi. Famous Bankrupts. Filings quadrupled. Filings Return post-BAPCPA. Which chapters?. Business or consumer?. Freedom from Debt Coalition. FDC - Philippines. Philippine Debt Situation. PhP5.56 . trillion (USD116 billion) = Outstanding debt of the national government as of 2017. Domestic . debt = . PhP4.382 . © Charles Tabb 2010. What is it?. Bankruptcy case is commenced by CREDITORS, not the Dr. Thus is “involuntary” from the perspective of the DR. History. Involuntary . bk. was the norm for 300 years. by. Nick . Sushkov. . Questions to Generate Discussion. . What is bankruptcy?. Bankruptcy is a federal court process that can help one eliminate legal responsibility for many of one’s debts or repay them over time under the protection of the bankruptcy court.. Dollars and Sense. Copyright © Texas Education Agency, 2014. All rights reserved.  . 3. If your loans are continuously delinquent (overdue and not being paid), your lender will say that you have defaulted.. Verona M Lambert. Director, Student Accounts. Southeast Missouri State University. I am not an attorney, nor do I play one on TV!!!. This presentation should . only . be viewed as a light-hearted discussion on bankruptcy and best practices from a specific higher education institution and should not be mistaken as legal advice to anyone in attendance of or reading the following documentation. Specific legal questions and/or application of these processes to your students/customers should be directed to your institutions legal counsel for advice on how you should proceed.. To discuss financial laws, policies and regulations in financial law.. To understand how company and industry policies affect industry practices.. To show major instances of noncompliance with financial laws, policies and regulations.. Bankruptcy MythBUSTERS What is Consumer Bankruptcy? The Bankruptcy Code defines “consumer debt” as debt incurred by an individual primarily for a personal, family, or household purpose. 11 U.S.C NCHER Knowledge Symposium . November 9, 2012. John L. Culhane, Jr., Partner. Consumer Financial Services Group. 215.864.8535. culhane@ballardspahr.com. . Use of Credit Reports for Employment. Employer must provide prior written disclosure (slightly different rules for applications by mail, telephone, email or similar means). The statutory promise of a bankruptcy discharge of liabilities can be meaningless to middle- and lower- income people if the process requires spending a substantial money on legal fees or on developing the evidence necessary to obtain a discharge. . The Bankruptcy Code defines “consumer debt” as debt incurred by an individual primarily for a personal, family, or household purpose. 11 . U.S.C. . § 101(8). . Not business debt.. Can be chapter 7, 11, 12, or13 .