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Category: Bankruptcy & Debt

Can I Extend My Chapter 13 Bankruptcy Plan Beyond Five Years to Pay a Claim?

Can I Extend My Chapter 13 Bankruptcy Plan Beyond Five Years to Pay a Claim?

ASK LEON  Bankruptcy expert Leon Bayer answers real-life questions. Dear Leon,  I have been in Chapter 13 bankruptcy for five years and just made my last plan payment. But the trustee now says I have to pay an additional $8,000 before I am done with my bankruptcy and can get a discharge. The trustee has filed a motion to dismiss my case.  I have talked to several bankruptcy lawyers, and they all agree that the trustee is correct – I…

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Getting Rid of Private Student Loans in Bankruptcy: Will Congress Change the Law?

Getting Rid of Private Student Loans in Bankruptcy: Will Congress Change the Law?

    A bill that would allow people to wipe out private student loans in bankruptcy might be gaining momentum in Congress. Although the Private Student Loan Bankruptcy Fairness Act of 2013 (H.R. 532) has been kicking around since January 2013, recent activity indicates that some representatives in Congress are still interested in leveling the playing field between private student loan lenders and borrowers. But unless the bill becomes law, the private student loan industry will continue to have their…

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