One of the most purposeful and effective tools in bankruptcy is the “automatic stay.” When a debtor files for bankruptcy, the “automatic stay”, codified in 11 U.S.C. § 362, operates to “stay” any collection or assessment efforts of creditors against the Debtor. For example, if a debtor was facing a […]
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Generally, in a bankruptcy proceeding the debtor’s pre-petition debts are discharged; taxes are unique in that most tax debts are not dischargeable. However, some tax debts may be dischargeable depending on the type of tax, how old the tax debt is, if the debtor filed a return, and the type […]
The rise in cost for higher education has resulted in more than one trillion dollars of student loan debt in this country and continues to grow; it is only second to the mortgage debt. Kevin J. Smith, Defining the Brunner Test’s Three Parts: Time to Set a National Standard for […]