Posted by Clifford Bordeaux | Aug 12, 2021 |
Under current law, it is nearly impossible to discharge student loans in bankruptcy. As commentators have noted, current law requires that the debtor demonstrate that the debt presents an "undue hardship." In a landmark bankruptcy case, In re Brunner, the Court suggested that a debtor could onl...
Posted by Clifford Bordeaux | Jun 14, 2019 |
Answer: Maybe. But probably only in limited cases where, before borrowing the money, the debtor owned a business, or worked in a business, which required the debtor to incur the debt for business purposes.
Debtors whose debts are "primarily consumer debt" must generally file a "means test" in ord...
Posted by Clifford Bordeaux | Aug 30, 2018 |
Your personal liability for any corporate debts (ie: debts that are co-signed or guaranteed by you as an individual) will be discharged. However, your corporation will still have liability.
You can file bankruptcy on behalf of the corporation, file a formal dissolution, or just allow the corporat...