Yearly Archives: 2015
Greg Shanfeld Achieves Board Certification as Bankruptcy Specialist
Greg Shanfeld, a partner at Wadhwani & Shanfeld, is now a board-certified bankruptcy specialist. He achieved this distinction through the American Board of Certification. This accomplishment is reached by only a small percentage of practicing attorneys in the nation and sets Greg apart as a true leader in the legal field. With the addition… Read More »
Can Bankruptcy Discharge Private Student Loans?
Can Bankruptcy Discharge Private Student Loans? Bankruptcy can’t eliminate federally guaranteed student loans, such as Stafford loans, but this rule doesn’t always apply to private student loans. Unlike federal loans, private student loans may be discharged through bankruptcy if you meet certain qualifications. A private student loan, in short, is a financing option for… Read More »
New Bill Aims to Make Private Student Loan Debt Dischargeable in Bankruptcy
Student loan debt remains a top concern for millions of Americans – and the $1.2 trillion in student loan debt we carry as a nation makes it clear this isn’t a problem that will fix itself. In an effort to chip away at this incredible debt load and address a serious financial burden affecting… Read More »
Department of Justice, JPMorgan Chase Reach $50 Million Settlement to Benefit Homeowners in Bankruptcy
In a deal struck earlier this week, regulators with the Department of Justice’s United States Trustee Program (USTP) will require JPMorgan Chase Bank to pay over $50 million to more than 25,000 homeowners. According to a press release from the Executive Office for the United States Trustees, the settlement comes after bank officials acknowledged… Read More »
People & Businesses That Have Filed for Bankruptcy
One of the most common misconceptions about bankruptcy is that it’s a sign of personal and / or financial failure. If you file for bankruptcy, the misconception would have you believe, you’ve somehow failed and it is all your fault. As a firm that’s helped more than 15,000 clients file bankruptcy cases, we at… Read More »
What You Need to Know About the Bankruptcy Means Test
In 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was passed. This act made a number of changes to U.S. bankruptcy, one of the most important of which involves the bankruptcy means test. Today, anyone who files for bankruptcy must first have their financial situation evaluated using an income-based test. The test… Read More »
Proposed Bill Could Make Student Loan Debt Dischargeable in Bankruptcy
On Thursday January 22, Maryland Democrat Rep. John Delaney introduced legislation that would allow student loan debt to be discharged in bankruptcy. The proposed bill – the Discharge Student Loans in Bankruptcy Act (H.R. 449) – aims to close what Delaney has called a “huge loophole in bankruptcy law that’s hurting real people.” Under… Read More »
2015 Chapter 13 Debt Limits
Under the U.S. Bankruptcy Code, any person who files bankruptcy will be required to have their financial situation evaluated in order to determine if they are eligible to file Chapter 7 or Chapter 13 bankruptcy. As part of this evaluation, the bankruptcy court will look at a consumer’s total debt, and will generally not… Read More »
Preparing for the Bankruptcy Meeting of Creditors
What is a 341 Hearing? When you file bankruptcy, you will be required to make an appearance in the case. This appearance is known as a meeting of creditors, or a 341 meeting / hearing. The meeting of creditors typically takes place about 30 days after you’ve filed and doesn’t last very long; it’s usually… Read More »