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What does it take to get your Student Loan discharged through Bankruptcy in Michigan?

“Undue hardship” is the standard that CHAPTER 7 & CHAPTER 13 BANKRUPTCY¬†Judges must determine in order to discharge your STUDENT LOANS. Here are some examples of cases where debtors were sucessful and unsuccessful: A 50 year old STUDENT LOAN BORROWER who was earning only $8.50 and hour as a telemarketer was¬†granted a discharge where the…

Is Social Security Income Included in Disposable Monthly Income?

The most recent amendments to the Bankruptcy Code (the 2005 Bankruptcy Abuse Prevention and Consumers Protection Act) has kept the Federal Circuit Courts and Bankruptcy Court busy – while leaving practitioners and Trustees at odds over certain critical issues including whether Social Security Income should be included in your budget (Schedule I). In Baud, the…