Dallas, TX (PRWEB) 2011 年 12 月 8 日 Allmand method was successful in helping their student loan bankruptcy debtor to perform overwhelmed. Although difficult to perform student loan bankruptcy, Allmand law said that the economic downturn is more suitable for some of the debtor’s bankruptcy discharge may be.
? This time the debtor is a huge amount of student loan debt. Economic downturn so that he can not get enough cash to pay his loan, so he filed for bankruptcy? Reed Allmand, managing partner of the law Allmand said. Student loan debt burden of the debtor is not even talking about suicide. Discharge may be stored in this man’s life?
Student loan debt in the form of the most difficult to meet some of the bankruptcy. However, despite the difficulties of fulfilling student loans, bankruptcy is not impossible to get rid of student loan debt. If the debtor can prove to help school loans, resulting in undue hardship, bankruptcy courts are willing to blame. According to bankruptcy law, debtors who want their students to obtain loans, Brunner test, these three criteria, including bankruptcy debtor must comply with the order:
Unable to pay
Bankruptcy debtor must prove that they are not for their own lives and their families can maintain the minimum standards, if they were forced to repay student loans. Minimum standard is the basic living of the debtor? Community can accept. For example, if the bankrupt debtor does not have enough food to eat, because they have money to pay student loans to buy direct, they will be the satisfaction of the loan
implementation of the first standard
Location will not change
Bankruptcy debtor must prove severe financial situation may soon change. For example, if the insolvent debtor in prison, and not be released for the next 25 years, there is no way to pay student loans. According to Allmand method is relatively easy to meet this standard or bankruptcy who were imprisoned or mental / physical incapacity, it may be more difficult to prove whether there is any chance of the debtor under the debtor’s situation will change. “
Debtor tried to
Bankruptcy debtor must prove they have a good faith effort to repay their student loans. Meeting showed that the standard and paid a significant amount of time. The debtor must prove that there is an attempt to increase revenue or reduce expenses, they have different payment options provided by the lender, including the integration advantages.
Reed Allmand noted how the recession pushing more debtors into bankruptcy student loans paid on time before. According to Allmand, all three of these insolvent debtor Brunner test
more than the required standards
? Place before the recession has a well-off debtors forced into bankruptcy services, because they lost their jobs, are still unemployed or underemployed for a long time the situation? Allmand said. The downward movement of some of the old collection arent likely to lose its financial break ground in just two years permanent?
Reed Allmand is Board Certified in Consumer Bankruptcy by the Texas Board of legal specialization, law firm Allmand law and NACBA national management of the partners? President of the North Texas area. He has practiced bankruptcy law for nearly 10 years and deal with more than 3,000 bankruptcy filings. Allmand appear? Breakfast money? Fox Business News, is the author of the truth about bankruptcy? Mr. speak. Allmand or to arrange an interview, please call (214) 265-0123.
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