Should I Sign a Reaffirmation Agreement on my . . . home . . . car . . . other loan?

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As a general rule, entering into a reaffirmation agreement is not generally advised. Many attorneys will advise their clients not to sign reaffirmation agreements, unless there is a specific benefit to be obtained in signing the agreement. This is because the primary goal of filing for Bankruptcy relief is to discharge debt and get a fresh start. A reaffirmation agreement, undermines that goal.

Upon completion of a Chapter 7, the debtor will receive a discharge from the court, which relieves the debtor of ...

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Student Loans in Bankruptcy

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Generally Student Loans are not discharged by filing a bankruptcy case [11 U.S.C. §523(a)(8)]. It may be possible, however, to discharge the Student Loan in a limited number of circumstances. Once a bankruptcy case is filed, the individual then needs to file an Adversary Proceeding in the bankruptcy court. An adversary proceeding is a lawsuit filed in the Bankruptcy Court in connection with a bankruptcy case. Our firm handles such matters, but they are not part of our standard fees, ...

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College Savings Plans (529 Plans) in Bankruptcy Cases

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Many individuals have established “529 Plans” to help fund college educations for children, grandchildren, step-children and step-grandchildren. There are several tax advantages to such plans which makes them an attractive option for many. Due to the tax advantages, many of these plans have been in effect for several years, and contributions have been made over an extended period of time. In some cases, individuals who in the past have contributed to such plans, are faced with the possibility of filing ...

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