Some people mistakenly believe that after they file for bankruptcy, their debts are wiped clean and they get a completely fresh start. Unfortunately, the federal bankruptcy code is not that kind. If you file for Chapter 7 bankruptcy, the majority of your debt will be cleared away, but there are...
STUDENT LOANS, BANKRUPTCY AND HOPE
More than $100 billion of student loans were taken out in 2010. Total loans, whether in the form of federal student aid or private student loans, exceed $1 trillion, which means more is owed on student loans than on credit cards. Student loans are extremely difficult to discharge in bankruptcy. ...
TRAFFIC TICKETS, BANKRUPTCY AND FLORIDA
A question that frequently comes up at consultations in my office is whether traffic tickets can be discharged in bankruptcy. Recently, a client presented with over $7000 of fines related to going through tolls with an invalidSunPass. 11 U.S.C. § 523(a)(7) of the bankruptcy law provides that a Chapter 7...