A quick search of the internet will lead the casual observer to believe that filing a bankruptcy petition under Chapter 13 will guarantee them the return of their recently repossessed motor vehicle. Unfortunately, the devil is in the details. The Tenth Circuit (which encompasses Oklahoma, Colorado, Kansas, New Mexico, Utah and Wyoming) has held the position since 2017 that an auto…
Can I really wipe out student loans with National Collegiate Student Loan Trust (NCSLT)?
A recent media firestorm has been reporting that up to $5 billion in student loans with National Collegiate Student Loan Trust (NCSLT) could be wiped out. Unfortunately, the media (as usual) has sensationalized their reporting and not done a very accurate job of explaining the situation involving NCSLT. Most of the time when student loans are discharged, it is part…
Discharging Divorce Property Settlement or Support Obligations
Two federal statutes govern the dischargability of alimony, support obligations, or property division. 11 USC 523(a)(5) creates an exemption to discharge in both Chapter 7 and Chapter 13 cases for “Domestic Support Obligations”. 11 USC 101(14A) defines a domestic support obligation as debts that are “in the nature of alimony, maintenance, or support”. 11 USC 523(a)(15) creates an exemption to…