Automatic Stay Exceptions

Wasson and ThornhillAutomatic Stay

The “automatic stay” immediately stops most collection actions by most creditors when you file bankruptcy. But here are some key exceptions.

Writing Off Student Loans from the Closing of ITT Technical Institute

Wasson and ThornhillStudent Loans

  On September 6, 2016 the parent company of 136 ITT Technical Institute branches announced that it was closing. It immediately closed all of its classroom and online instructions across the country. It canceled the academic quarter that was to start on the following Monday, September 12, leaving about 45,000 students scrambling. ITT Tech had two locations in Louisville. One’s … Read More

Simple Debts Discharged in Chapter 7

Wasson and ThornhillChapter 7

In most straightforward Chapter 7 cases all debts not secured by any collateral are discharged–forever written off. You pay nothing on them.