Washington DC and Maryland Bankruptcy eNewsletters

Will Declaring Bankruptcy Discharge My Student Loans?

Washington DC Bankruptcy Attorney Discusses a Little Known Fact Most people assume that one cannot discharge a student loan debt through bankruptcy. The accepted fact is that you can get rid of most kinds of unsecured debt through bankruptcy, but student loans are one thing you can’t wipe out through bankruptcy. A careful reading of bankruptcy law reveals that this is almost always true. For those able to prove that repaying a loan would cause undue hardship, student loans can, in fact, be discharged by bankruptcy. Undue hardship is undefined in bankruptcy law, meaning that each individual court decides what it means, making it an incredibly difficult condition to meet. For starters, one must be able to prove not only an inability to repay loans now, but very little chance of being able to pay them in the future either. Most borrowers don’t even try to discharge student loans since…
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The Case For Bankruptcy When You’re in Debt in a Tough Economy

The accused White House state party crashers in the fall of 2009 were found to have financial trouble. According to bankruptcy records, the White House crashers business is more than $2.1 million in debt. Their car and boat, valued at $150,000 and $90,000 respectively, were repossessed. Although they knew of their financial state, the couple continues to live with expensive tastes including hiring limousine service and running tens of thousands in credit card purchases. Why People File Bankruptcy In a tough economy, filing for bankruptcy may be the last resort for many individuals struggling with their finances. Many homeowners choose to file Chapter 13 to save their homes from facing foreclosure and catch up on their debt. Other individuals choose Chapter 7 to gain relief from creditors harassing them. Business owners choose to file Chapter 11 to catch up on bills that were not able to pay. No matter what…
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Take Time to Remember 9/11

The Law Firm of Kevin D. Judd would like to remind you to take time to remember the victims of the September 11, 2001 terrorist attacks in New York City, at the Pentagon and in Pennsylvania. Remember that each day is a blessing. Law Firm of Kevin D. Judd – Maryland and Washington DC bankruptcy attorney

Retail Bankruptcy

A retail company with stores in 49 states filed for bankruptcy under Chapter 11, putting several lawsuits against the chain on hold. The company owed some $122 million on a loan to a bank and had claims against it from three lawsuits. Each of the lawsuits were put on hold during the bankruptcy. The retailer under the terms of the bankruptcy agreed to pay $11 million to a venture capital firm, to sell 10 stores and for the venture capital firm to assume the three claims against the retailer. One of the lawsuits on hold was a $100,000 case in which a man tripped in a third level parking unit and fell in a hole. He sustained broken bones and sprains. The second case involves a woman who says she fell in a store parking unit and had a severe arm injury. The final lawsuit involved a large display poster…
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