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Separate category of Student Loan Debt in Chapter 13

Separate category of Student Loan Debt in Chapter 13

Under Bankruptcy Code § 1322(b)(5), a Chapter 13 plan may enable maintenance of re re re payments for claims on that the final repayment is due following the date upon which the last re re re payment beneath the plan flow from. Since a Chapter 13 plan cannot meet or exceed 5 years, the ultimate re payment on many student education loans is going to be due following the Chapter 13 plan is finished. Thus, this area of the Bankruptcy Code appears to be to permit a debtor to carry on to create student that is regular re payments straight to the financial institution, not in the plan. Continue reading Separate category of Student Loan Debt in Chapter 13