United States Bankruptcy Court

The United States bankruptcy court is the federal court that handles only bankruptcy cases. It is important for you to understand that you can file court petition for bankruptcy in a state court. There are ninety-four federal judicial districts and each of them handles all types of bankruptcy cases.

Student Loans In Bankruptcy

When bankruptcy is granted to a debtor, certain debts are dischargeable while certain other types of debts are non-dischargeable. The non-dischargeable debts are the debts are not completely eliminated even after granting bankruptcy to a debtor. They are supposed to pay off the same. Student loans in bankruptcy are the non-dischargeable debts.

Personal Bankruptcy

Personal bankruptcy is the most common form of bankruptcy. The bankruptcy laws in the bankruptcy code have provided various provisions for personal bankruptcy. In this competitive world, things move very fast, therefore, in an attempt to meet the standard of living set by the society, many people fall in the cruel trap of various kinds of debts. If you are not very careful in handling your financial matters, these debts may put you in a deep financial trouble and sometimes, things may just go out of your control. There might be a situation when the debts you owe to the various creditors are much higher than the assets you own and the means of income you have. This is the time when you would probably like to give your financial life a fresh start by closing the old chapters. Here, you will have to take the help of various chapters as described in the bankruptcy code. Let’s go exploring the various options that the bankruptcy code provides you.