Michigan Bankruptcy Blog

A People’s History of Bankruptcy in the United States

A People’s History of Bankruptcy in the United States

Bankruptcy in the United States: A Timeline of Eroding Rights Bankruptcy in the United States is an internationally unique legal remedy for those suffering from burdensome debt. Very few other countries allow individuals in debt to discharge and eliminate their personal, consumer debt. Of the other nations who do maintain some sort of "insolvency" law, as it tends to be called, the majority provide a form of bankruptcy that benefits creditors exclusively. It is a means of ...

Posted on July 5th, 2016 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , , , , , ,

Congressional Democrats Aim for Real Bankruptcy Reform

Separate Bills Introduced to Make Private Student Loans Dischargeable Again and to Specially Treat "Medical" Bankruptcies Getting the Attention the Consumers Deserve Two separate pieces of legislation are being introduced by Senate Democrats that will, despite long odds of becoming law in a Congress dominated by pervasive and bi-partisan financial industry lobbying, at least help to re-focus attention on the damage done to the U.S. Bankruptcy Code by the BAPCPA bankruptcy "reform" amendment to the Code in ...

Posted on June 26th, 2014 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , , , ,

Can I File Chapter 13 If Not Eligible for Discharge?

File Chapter 13 If Not Eligible for Discharge In Order To Force Creditors Into An Affordable Repayment Plan One of the interesting options that a Chapter 13 bankruptcy offers is the possibility of filing a Chapter 13 even if you are not eligible to receive a discharge of the balance of the debts that are not paid through the Chapter 13 payment plan. Why in the world would I do that, you ask? It's a useful option ...

Posted on July 30th, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , , ,

Support the Fairness for Struggling Students Act of 2013

Restore the Dischargeability of Private Student Loans in Bankruptcy Sen. Richard Durbin (D-Il) has re-introduced legislation, S. 114, The Fairness for Struggling Students Act of 2013, originally proposed by Sen. Durbin in 2011. This legislation would re-introduce the possibility of a discharge in bankruptcy for private student loans, which have become one of the largest debt burdens not just on American students but also on American taxpayers at large. Student loan debt in the United States has ...

Posted on May 20th, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , ,

How Can a Chapter 13 Bankruptcy Help Pay Student Loans?

Chapter 13 Bankruptcy: Force the Lender into a Court-Ordered Payment Plan Chapter 13 Bankruptcy and Student Loan Debt: A Way Out Student loans are not generally dischargeable in bankruptcy. In order to discharge student loans in Chapter 7 or Chapter 13 bankruptcy, an adversary lawsuit must be filed within the bankruptcy process to have them declared by the judge in your bankruptcy case to be discharged on a basis of "undue hardship." Through prior court decisions, the ...

Posted on April 5th, 2013 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , , ,

Is It Possible to Discharge Student Loans in Michigan Bankruptcy?

Can You Discharge Student Loans in Bankruptcy? Sometimes. To discharge student loans in bankruptcy, a filing Chapter 7 or Chapter 13 debtor must reach an extremely high bar. Student loan debts are specifically excepted from the discharge of debts resulting from a successful bankruptcy petition by section 523(a)(8) of the US Bankruptcy Code.  This section contains several important components to those considering bankruptcy.  It covers: Any educational benefit overpayment or loan that is ... Made, insured, or guaranteed ...

Posted on December 5th, 2012 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

Read More

Tags: , , , ,