There is no such law federal or state. Federally funded student loans are sometimes forgiven if the debtor student has incurred a mental or physical illness that renders them permanently disabled to the extent of never being able to earn enough income to repay the debt. This option however is now under scrutiny and it is possible it may be repealed in the next congressional session.
If filing a federal bankruptcy, federal BK exemptions apply. If filing a state bankruptcy, the state's exemptions apply. A few states allow the debtor to choose either state or federal filing whichever is the most beneficial to the debtor. Bankruptcy Action, http://www.bankruptcyaction.com
No. Child support is not dischargeable in either federal or state bankruptcy.
Yes, they are filing Chapter 11 bankruptcy protection with a restructuring agreement that allows them to raise $77.5 million in new cash.
Federal Student loans cannot be discharged in bankruptcy. You must repay them.
Why are you filing bankruptcy if you have money in the bank? You are entitled to exemptions, which may include some money in a bank account. The amount you may exempt will depend on whether your state has its own exemptions or allows you to use the federal exemptions.
No, you can't get fired for filing for bankruptcy because as what federal law prohibits an employer to discriminate against you for declaring personal bankruptcy. In fact, you will probably be happy and relieved to know that your constitutional rights protect you from being fired for filing bankruptcy. Yes, it is a violation of your rights, not to mention a crime to fire someone for filing bankruptcy. So, don't worry your job is safe.
An illegal immigrant can file for bankruptcy in California. The federal bankruptcy code does not limit the filing of a bankruptcy to U.S. citizens or legal permanent residents. The bankruptcy code allows a debtor to be a "person that resides or has a domicile, a place of business, or property in the United States, or a municipality, may be a debtor under this title."Whether it is advisable to file for bankruptcy, will depend on the particular circumstances of that individual.
The bankruptcy law does not set a time limit for banks to foreclose on your home after filing bankruptcy. In fact, banks are prevented from foreclosing or continuing a foreclosure already in process upon the filing of a bankruptcy without first obtaining an order from the bankruptcy court allowing it to foreclose or continue a foreclosure already commenced.
Chapter 13 (and all) bankruptcy is Federal Filing. And, no, usually Vets benefits are protected under bankruptcy. See an attorney familiar with these matters.
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
The Bankruptcy Code refers to a business filing bankruptcy. If a business is unable to pay it's debt or pay it's creditors, the business or it's creditors can file bankruptcy. Upon filing bankruptcy, the business ceases operation, a trustee sells the assets, and then gives the proceeds to it's creditors.
Yes