Can Student Loans Be Discharged In Bankruptcy? It is possible to include student loan debt in your bankruptcy filing and get it approved by the court if you can prove undue hardship. While most student loans are not automatically discharged in bankruptcy, engaging a skilled Honolulu bankruptcy attorney can increase your chances of having your student debt forgiven. Most...
Continue Reading2 Years to 720 Credit Score After Filing For Bankruptcy Filing for bankruptcy can be a challenging decision, but it can also be a fresh start. However, it’s crucial to comprehend how bankruptcy will impact your credit score. This is where our Honolulu bankruptcy attorneys at Blake Goodman, P.C. can help you understand the nuances. One question we hear from our...
Continue ReadingIf you’re under financial stress and have outstanding debt, the thought of losing a portion of your paycheck may seem unbearable. What is wage garnishment? Wage garnishment is when a court orders your employer to retain a specific amount of your paycheck to satisfy a debt. Keep reading to learn more about the wage garnishment definition and what legal...
Continue ReadingWhat to Expect at a Consultation with a Maui Bankruptcy Attorney Before your attorney can advise you on debt relief options, they need to know about your financial situation. The bankruptcy consultation gives you the chance to share your financial information and explain what led you to seek bankruptcy. A consultation also lets you meet with a Maui bankruptcy...
Continue ReadingOnce you file your bankruptcy petition, the court will appoint a trustee to manage your case. The trustee schedules and presides over the 341 meeting of creditors. It is called a “341 meeting” because Section 341 of the Bankruptcy Code requires the trustee to hold the meeting. During the bankruptcy 341 meeting, the trustee will verify the information in...
Continue ReadingWhen you file bankruptcy, the United States trustee assigns a private trustee to monitor the case and manage any assets. The trustee works to prevent fraud and ensures creditors are paid fairly according to the Bankruptcy Code. As a debtor in bankruptcy, you will encounter the trustee during the 341 meeting of creditors and when providing assets or payments...
Continue ReadingChapter 13 bankruptcy is called a “wage earner’s plan” because it requires you to pledge your income toward repayment over the life of the plan. Once you complete all payments under the plan, you’ll receive a discharge of most of your outstanding debts. It’s crucial that you discuss your proposed plan with an experienced attorney before filing for bankruptcy...
Continue ReadingBankruptcy is a powerful tool for improving your spot in life. If you’re struggling to pay your bills, exhausting your savings, and dodging collection calls day and night, you might have options. For the right individual, there can be several advantages to filing bankruptcy in Hawaii. This can help eliminate the amount you owe and give you a fresh...
Continue ReadingFiling bankruptcy is typically a last resort action for most people. It is a process in which individuals eliminate different types of debt they might have. Deciding to file for bankruptcy is a life-altering decision— one of the main reasons why is the lowering of one’s credit score. Consumers usually file one of two chapters of bankruptcy, while others...
Continue ReadingHave you found yourself in a situation where you owe unpaid income taxes to the IRS? Is the IRS using aggressive efforts to collect back taxes from you? If you are stressed and feeling overwhelmed because you have substantial tax debt, then filing for Chapter 7 bankruptcy might be the solution to put a stop to IRS collection actions. When the...
Continue Reading