Suffern, NY Bankruptcy Law Firms & Lawyers

Did the acts of Defendant that gave rise to the claim occur before the Bankruptcy was filed? If yes, then it was a claim that existed at the time the bankruptcy was filed. Such claim was an asset of the debtor at the time the bankruptcy was filed. Unless the asset was listed in the bankruptcy schedules as an asset and either exempted or abandoned by the Trustee it is a non-exempt asset of the bankruptcy estate. The Trustee can reopen the old bankruptcy case and use funds to pay creditors. How much, depends on more facts not disclosed.

Private student loans cannot be discharged in any form of bankruptcy unless there is a trial in which the student proves that s/he is eligible to discharge the debt because of an "undue hardship." The box that is checked concerning the debt is for statistical purposes only and is otherwise meaningless. If a lawyer is promising that student loan debts can be removed from your credit report, run out of the office as fast as you can!