Tag Archives: means test
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It has been 25 years since Brunner established the three-prong test for determining whether the repayment of student loans imposes an undue hardship on debtors and their families. These prongs are listed below: You cannot maintain, based on current income and expenses, a minimal standard of living for yourself and your dependents if you were… Read More »
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The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) was signed into law by President Bush on April 20, 2005 and took effect on October 17, 2005. Primarily, the law was enacted to prevent individuals from filing Chapter 7 bankruptcy and eliminating their debt when they have the ability to repay all or… Read More »
