Being broke can cost you big bucks. Not only is it difficult for poor people to afford necessities like food and shelter, but basic services can also cost much more when you are low on funds.
At times, United States courts have been reluctant to grant recognition to foreign proceedings involving offshore “exempted” companies under Chapter 15 of the Bankruptcy Code.
While the bankruptcy process expects a debtor to “spill the beans” about his finances, there is no reciprocal obligation to help a debtor reorganize before, during or after bankruptcy.
Unitek Global Services, Inc. (“Unitek” or the “Debtor”) filed for bankruptcy under Chapter 11 of the Bankruptcy Code on November 3, 2014 in the United States District Court for the District of Delaware.
In a recent decision considering the dischargeability of student loan debt, the Eighth Circuit Court of Appeals affirmed a lower court’s decision establishing a unique and flexible test for determining whether repaying student loans imposes an “undue hardship” on a debtor.
You may think that your bankruptcy case will discharge all pre-bankruptcy financial obligations and stop all future debt collection cold. You may think that these debts are dead and buried, never to rise again. That’s the power of the federal bankruptcy law, right?
I’ve been wondering recently about how my clients are doing long after their bankruptcy case ends and the debt is gone.
The 8th Circuit Bankruptcy Appellate Panel denied Kathryn Nielen’s application to discharge her student loans, and the result, although discouraging in many respects, is not all that surprising.