Discharge from bankruptcy
February 5th, 2008 by Questions
Is consideration ever given to circumstances that contributed to the bankruptcy when it comes to a discharge? Specifically, I am wondering if they take into consideration illness … permanent disability .. that caused a substantial reduction in income. Also, the majority of the debt is student loans … 10 years old … and although paying on them for years … the interest paid was almost 40% of the principal originally owed on the loans themselves. Misinformation from the bank … horror stories from collections .. and finally an absolutely intolerable situation led to the filing for bankruptcy .. following 2 years in credit counselling and debt repayment plans.
collections .. and finally an absolutely intolerable situation led to the filing for bankruptcy .. following 2 years in credit counselling and debt repayment plans.
Do any of these factors ever have any influence on the date of discharge?
One Response to “Discharge from bankruptcy”
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February 06, 2008 at 10:21 am, Barton Goth GCO Bankruptcy Trustees said:
The courts definately will consider circumstance, but the biggest thing they look at is how compliant you were with your duties and responsibilities during a bankruptcy.
The best thing everyone can do for themselves is to make sure they complete their duties in a cooperative and timely matter and they are more likely to be discharged quickly by the court system.