Bankruptcy Law

Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.

Ask a Lawyer, Get an Answer ASAP!

Bankruptcy Reform Act Questions

What is the Bankruptcy Reform Act?

The Bankruptcy Reform Act was passed to help people understand their various options when filing for bankruptcy or options they may have to clear their debts before they file for bankruptcy. Filing for bankruptcy can have many aspects which the common individual may not know or understand.

What effect will a Bankruptcy Stay have on Child Support?

According to the Bankruptcy Reform Act of 1994, child support may not be discharged in bankruptcy. A bankruptcy stay may not halt the process to modify child support.

Can Bankruptcy be Claimed on Private Student Loans?

Student loans may not be discharged of bankruptcy. The individual may file for Chapter 13 bankruptcy and add the student loan to the repayment plan.

Should a 401K Loan be included in the Schedule F while filing for Bankruptcy?

In most cases, a 401K loan would be considered a secured debt. According to the Bankruptcy Reform Act, the 401K may be exempt and the individual may pay the loan irrespective of whether he/she is in Chapter 7 or Chapter 13 of Bankruptcy. The individual may include it in the Schedule F while filing for bankruptcy.

Can an Individual adjust his/her current income to zero in order to take the means test for bankruptcy?

According to the Bankruptcy Reform Act, an individual may not adjust his/her income to zero to take the means test. He/she may have to wait for six months to pass the means test if he/she cannot take it on his/her current income.

Can an Individual reopen his/her Bankruptcy case to file an adversary proceeding for undue hardship?

According to the Bankruptcy Reform Act, an individual may reopen an old bankruptcy case to file for an adversary proceeding for undue hardship. The individual may not have to pay any additional fee to reopen the bankruptcy case.

Can an Individual file for Bankruptcy without a Legal Immigration Status?

Since the Bankruptcy Reform Act of 2005 does not mention the legal immigration status of the individual as a requirement to file for bankruptcy, he/she may file for bankruptcy without a legal immigration status. However, the debtor or the trustee may have to prove the individual’s legal residence in the US to benefit from the bankruptcy.

Can an Individual enter a Reaffirmation Agreement after a Bankruptcy discharge has been granted?

As per the Bankruptcy Reform Act of 2005, an individual may enter a reaffirmation agreement before the discharge of bankruptcy is filed. He/she may not enter a reaffirmation agreement once he/she gets a bankruptcy discharge.

Can an Individual ask a Bankruptcy Trustee to show him/her, his/her work file to get information about a person?

According to the Bankruptcy Reform Act, notes and other information about a trustee’s work may be categorized as being privileged information. If the individual wants to access this information, he/she may sue the person in court. The court may subpoena the trustee and the file with the information to get more information about the person.

By having information about the Bankruptcy Reform Act it can help individuals who are planning to file for bankruptcy know about its provisions and regulations. This may help them plan for bankruptcy and cover all areas when they file for bankruptcy.
Please type your question in the field below

3 verified Bankruptcy Lawyers are online now

Bankruptcy Lawyers on JustAnswer are verified through an extensive 8-step process including screening of licenses, certifications, education and/or employment. Learn more

Online
Terry L.

Attorney

Doctoral Degree

★★★★★
2671 positive reviews
Online
cortrightlaw

Attorney

Doctoral Degree

★★★★★
511 positive reviews
Online
JoeLawyer

Attorney

Juris Doctorate

★★★★★
376 positive reviews
See all Bankruptcy Lawyers
JustAnswer in the news:
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
Web sites like justanswer.com/legal
...leave nothing to chance.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.