http://resources.lawinfo.com/en/Legal-FAQs/Debt-Relief-Bankruptcy/Federal/index.html LawInfo - Legal Resource Center offers free legal forms and free legal documents that is designed to help consumers and businesses resolve their legal issues http://resources.lawinfo.com/en/Legal-FAQs/Debt-Relief-Bankruptcy/Federal/what-about-my-student-loans-can-i-discharge-t.html In general, student educational loans are not discharged under bankruptcy.  There are exceptions in which a court may discharge the debt especially where paying off the debt will impose an undue hardship on the debtor. Fri, 14 Dec 2007 12:14:13 GMT http://resources.lawinfo.com/en/Legal-FAQs/Debt-Relief-Bankruptcy/Federal/i-am-involved-in-a-short-sale-situation-with-.html This is a common tactic by lenders in a short sale situation.  However, if you sign the note then try to file for bankruptcy shortly thereafter, you may have a difficult time convincing the bankruptcy court to discharge the debt. Debt Relief FAQs Wed, 12 Dec 2007 00:12:07 GMT http://resources.lawinfo.com/en/Legal-FAQs/Debt-Relief-Bankruptcy/Federal/what-debts-are-dischargeable.html 11 U.S.C. Section 523 lists exceptions to discharge. In general, all other debts are dischargeable. Some debts listed in Section 523, such as those based on fraudulent conduct, embezzlement or willful and malicious injury to another, are discharged unless a complaint to deny discharge of that debt is timely filed with the bankruptcy court. Ordinarily, these complaints must be filed within sixty (60) days of the first date set for the meeting of creditors. Additionally, debts that were not listed on your bankruptcy schedules or that were incurred after you filed bankruptcy are generally not discharged. Denial of a discharge goes to the debtor`s entire proceeding, while determination of non­dischargeability goes to a particular debt only. A request for denial of discharge is usually granted because the debtor has defrauded a creditor, concealed property of the estate, made a false oath, presented or used a false claim, refused to obey any lawful order of the court and other reasons contained in the Bankruptcy Code. A non­dischargeability of a debt excepts a particular debt from the discharge. This means that if the debt is determined non­dischargeable the debtor is still obligated to that creditor. Debt Relief FAQs Mon, 05 May 2008 23:58:38 GMT http://resources.lawinfo.com/en/Legal-FAQs/Debt-Relief-Bankruptcy/Federal/what-is-a-discharge.html The discharge order is issued by the court and permanently prohibits creditors from taking action to collect dischargeable debts against the debtor personally; this does not prevent secured creditors from seizing collateral if payments are not kept up, or other creditors from pursuing property of the estate. Some debts are not dischargeable, and others may be found to be non­dischargeable depending on particular circumstances. Debt Relief FAQs Tue, 29 May 2007 21:19:00 GMT http://resources.lawinfo.com/en/Legal-FAQs/Debt-Relief-Bankruptcy/Federal/what-is-a-priority-debt.html A priority debt is a debt entitled to priority in payment in a bankruptcy case. A general listing of priority debts is given in 11 U.S.C. º 507 of the Bankruptcy Code. Examples of priority debts are some taxes, wage claims of employees, debts related to goods and services provided to a debtor`s estate during the pendency of a bankruptcy case. In addition, alimony, maintenance or support of a spouse, former spouse, or child is considered a priority debt. If you have questions deciding which of your debts are entitled to priority status, you should consult an attorney. Debt Relief FAQs Tue, 29 May 2007 21:19:00 GMT http://resources.lawinfo.com/en/Legal-FAQs/Debt-Relief-Bankruptcy/Federal/what-is-a-reaffirmation-agreement.html A reaffirmation agreement is an agreement by which a bankruptcy debtor becomes legally obligated to pay all or a portion of an otherwise dischargeable debt. Such an agreement must generally be filed within sixty (60) days after the first date set for the meeting of creditors. If the reaffirming debtor is not represented by an attorney, the debtor or creditor must file an application for approval of the agreement, along with a request for hearing. You must appear in person at the hearing. The judge will ask you questions to determine whether the reaffirmation agreement imposes an undue burden on you or your dependents and whether it is in your best interests. Since reaffirmed debts are not discharged, the bankruptcy court will normally only reaffirm secured debts where the collateral is important to your daily activities. Reaffirmation agreements are strictly voluntary. The Bankruptcy Code or other state or federal law does not require them. You can voluntarily repay any debt instead of signing a reaffirmation agreement, but there may be valid reasons for wanting to reaffirm a particular debt. Since a reaffirmation agreement takes away some of the effectiveness of your discharge, legal counsel is advisable before agreeing to a reaffirmation. Even if you sign a reaffirmation agreement, you have a minimum of sixty (60) days after the agreement is filed with the court to change your mind. If your discharge date is more than sixty (60) days after the agreement is filed with the court, you have until your discharge date to change your mind. If you reaffirm a debt and fail to make the payments as agreed, the creditor could take action against you to recover any property that was given as security for the loan and you may remain personally liable for any remaining debt. Debt Relief FAQs Tue, 29 May 2007 21:19:00 GMT http://resources.lawinfo.com/en/Legal-FAQs/Debt-Relief-Bankruptcy/Federal/what-is-a-secured-debt.html A secured debt is a debt that is backed by property. A creditor whose debt is secured has a right to take property to satisfy a secured debt. For example, most homes are burdened by a secured debt. This means that the lender has the right to take the home if the borrower fails to make payments on the loan. Most people who buy new cars give the lender a security interest in the car. This means that the debt is a secured debt and that the lender can take the car if the borrower fails to make payments on the car loan. Debt Relief FAQs Tue, 29 May 2007 21:19:00 GMT http://resources.lawinfo.com/en/Legal-FAQs/Debt-Relief-Bankruptcy/Federal/what-is-an-administrative-debt.html An administrative debt is a priority debt. An administrative debt is created when someone provides goods or services to your bankruptcy estate. The best example of an administrative debt is the fees generated by attorneys and other authorized professionals in representing the bankruptcy estate. Debt Relief FAQs Tue, 29 May 2007 21:19:00 GMT http://resources.lawinfo.com/en/Legal-FAQs/Debt-Relief-Bankruptcy/Federal/what-is-an-unsecured-debt.html A debt is unsecured if you have simply promised to pay someone a sum of money at a particular time, and you have not pledged any real or personal property as collateral for that debt. Typically, all credit cards are an unsecured debt. Debt Relief FAQs Tue, 29 May 2007 21:19:00 GMT http://resources.lawinfo.com/en/Legal-FAQs/Debt-Relief-Bankruptcy/Federal/what-is-redemption.html Redemption allows an individual debtor (not a partnership or a corporation) to keep tangible, personal property intended primarily for personal, family, or household use. The debtor must pay the holder of a lien on the property the amount of the allowed secured claim on the property, which typically means the value of the property. Otherwise, in order to retain the property, the debtor would have to pay the entire amount of the secured creditor`s debt, do a reaffirmation agreement and become legally obligated on the debt again. The property redeemed must be claimed as exempt or abandoned. With redemption, a debtor can often get liens released on personal household possessions for much less than the underlying debt on those secured possessions. Unless the creditor consents to periodic payments, redemption must generally be made in one lump sum payment to the creditor. Debt Relief FAQs Wed, 12 Dec 2007 00:57:03 GMT http://resources.lawinfo.com/en/Legal-FAQs/Debt-Relief-Bankruptcy/Federal/what-should-i-do-if-i-cannot-make-my-chapter-.html If the debtor cannot make a Chapter 13 payment on time according to the terms of the confirmed plan, the debtor should contact the trustee by phone and by letter advising the trustee of the problem and whether it is temporary or permanent. If it is a temporary problem and the payments can be made up, the debtor should advise the trustee of the time and manner in which the debtor will make up the payments. Significant changes in the debtor`s circumstances may require that the plan be formally modified. If the problem is permanent and the debtor is no longer able to make payments to the plan, the trustee will request that the case be dismissed or converted to another chapter. The determination of whether to modify, dismiss or convert a case requires the same kind of analysis as is needed for the initial decision whether to file bankruptcy and under what chapter. Therefore, the debtor should seek counsel from a qualified bankruptcy attorney before attempting to make such a decision. If the debtor delays making a voluntary decision and cannot make the plan payments, the court may dismiss the case. 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