Sentences with phrase «debt discharge issues»
I have extensive experience and knowledge of debt discharge issues in Western New York bankruptcy courts.
https://www.scribnerbankruptcylaw.com/ Not exact matches
At the end of the process, the bankruptcy court issues a discharge that operates as a permanent injunction preventing creditors from seeking to collect on debts that were included in the bankruptcy.
Private student loan bankruptcy discharge is one of those issues in the debt world that many just make the wrong assumptions about.
We cited a report from the 1970's in our testimony because 1) This is the report Congress commissioned during the initial debate on this issue, 2) This report did not support the conclusion that students were more likely to discharge debts in bankruptcy, and 3) It is the only comprehensive report on this issue that we know of.
The court issues a bankruptcy discharge releasing the debtor from liability for specific debts.
This bill would address the bankruptcy issue head - on by amending the bankruptcy code to allow discharge of student loan debts without «undue hardship,» with the exception of federally - subsidized loans.
After your bankruptcy discharge is issued, you have no personal liability to repay the debt (unless you've reaffirmed the debt).
For loan forgiveness that is considered taxable income, your lender will issue you a 1099 - C for Discharged Debt.
The real issue isn't the concept of student loans, but the reality: High interest rates, laws that make it near impossible to discharge college debt even in bankruptcy, astronomical college prices that each year pull the dream of a college education out of reach of millions of Americans.
If these debts aren't current, there is a chance that your bankruptcy won't be discharged, which could lead to issues.
Another issue is that discharged debts remain on your credit report for 7 years after they are discharged.
The Department of Treasury has issued a ruling that discharges of debts for Corinthian borrowers will not be considered taxable income.
A discharge order — eliminating liability for repaying your debts and stopping any future creditors» collection actions on this debt — will be issued two to three months after your meeting with creditors.
A discharge order — eliminating liability for repaying your debts and stopping any future creditors» collection actions on this debt — will be issued 2 - 3 months after your meeting with creditors.
If debts for «all student loans» are presumptively non-dischargeable, then more than 10 million discharge orders have been issued with an erroneous legal conclusion since 2005.»
Unlike other types of consumer debt, privately - issued financing can not typically be discharged during bankruptcy, which means it's nearly impossible to escape privately - issued debt.
Tax issues, including income from the discharge of indebtedness, income - tax consequences of debt modifications and the preservation and exploitation of net operating losses.
Many other substantive law issues arising under federal law are also considered in state court (e.g. the effect of a bankruptcy discharge in a state law debt collection action).
A challenging issue is the Virginia court's right to use its contempt of court powers when a spouse fails to pay a debt discharged in bankruptcy.
A discharge of the couple's joint debts can eliminate a potentially contentious issue in a Virginia divorce: who will pay each joint debt.
In the case of all federal student loans, including Subsidized, Unsubsidized, PLUS loans, and Perkins loans issued via the student's college or university, a loan is discharged if the student who benefited dies before the debt is repaid.