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The bankruptcy court adopted the "known or should have known" test arising out of Walker v. Citizens Bank, 726 F.2d 452 (8th Cir. 1984). Under that test, a court should permit the discharge of debt unless the debtor knew or should have known that the debt was incurred through fraud. [2]
In a Chapter 7 case, the debtor has no absolute right to discharge. A creditor or trustee may file an objection to the discharge of the debt. To object to a discharge, a creditor must file a complaint before the deadline outlined in the notice sent by the bankruptcy court. More than 90% of Chapter 7 debtors receive a discharge of debts. [12]
On July 13, 2015, DonJon filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Connecticut with a debt of $32,509,549.91. Modern bankruptcy law often distinguishes reorganization , in which only some of the bankrupt's assets are taken, a repayment plan is devised and part of the debt is discharged , from ...
Loans, medical debt and credit card debt are generally all able to be discharged through bankruptcy. Tax debt, alimony, spousal or child support and student loans are all typically ineligible for ...
The court could dismiss your case or change it to Chapter 7 if you’re late on your Chapter 13 payment. You can request a payment reduction or amendment if you’ve faced an unexpected financial ...
If you were to file for bankruptcy, you might experience an unwelcome shock in finding out this does not discharge all forms of debt. Those who carry certain debts are still held responsible for...
Gus Curcio and his brother Francis were convicted December 14, 1983 by a federal jury in Hartford, Connecticut of being in the loan shark business. To wit: "The defendants were convicted on December 14, 1983, by a jury, having been charged in a seven-count indictment with criminal conspiracy to make extortionate extensions of credit, together with several additional substantive counts of ...
Stern v. Marshall, 564 U.S. 462 (2011), was a United States Supreme Court case in which the Court held that a bankruptcy court, as a non-Article III court (i.e. courts without full judicial independence) lacked constitutional authority under Article III of the United States Constitution to enter a final judgment on a state law counterclaim that is not resolved in the process of ruling on a ...