Chapter 7 Bankruptcy Timeline
A chapter 7 bankruptcy usually lasts a certain number of months from start to finish, if there are no issues. In many cases the greatest cause for delay is the client. Although many clients are timely in their responses to our questions and requests for documents, some tathan inordinate amount of time to get the information to us. However once, we have all of their information a bankruptcy petition can be filed in a matter of days. After a bankruptcy petition is filed, the debtor is required to attend the Meeting of Creditors (aka the 341a meeting) approximately one month thereafter.
Student Loan Debt
Most people know that it is nearly impossible to get rid of student loan debt through bankruptcy. With the rising costs of tuition more and more people are being crippled with overwhelming student loan debt. An article by The Los Angeles Times details stories of individuals that have been financially crushed by their student loan debt. The article states: Brenda Small didn't think twice about taking out student loans to pay for nursing school in the late 1980s. She figured she could easily pay off the $20,000 bill — until an injury a few years later left her permanently unable to