Legal Question in Bankruptcy in Maryland

Re: Bankruptcy Reform Act (9/28/98)

It's imposible to predict what congress will do, but some bankruptcy legislation is likely. Hopefully, it will be better thought out than the bill that almost passed last year.

Student loans were addressed in the Education bill, rather than the bankruptcy bill, and last congress repealed the ability to discharge them after 7 years. Now they are only dischargeble on undue hardship grounds.

It is highly unlikely that any bill that may pass this congress will reverse this. Congress is unlikely to make any pro-consumer debtor changes except in the context of Chapter 12, family farmer bankruptcy.

It will almost certainly be better to file Ch. 7 or 13 before the effective date of any new act. If you are contemplating bankruptcy, see an experienced bankruptcy lawyer now.

Daniel Press

Chung & Press, P.C.

6723 Whittier Ave., Suite 302