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One of the key aims of the bankruptcy process is affording debtors a "fresh start" by granting them a discharge of their debts, However, the Bankruptcy Code has excepted certain debts that are incapable of being discharged as a matter of right, including, without limitation, certain "qualifying" loans used to fund a debtor's education. For a debtor to be able to receive a discharge of such loans, the debtor must file a lawsuit and obtain a judgment determining their dischargeability.
In the case of In re Irigoyen, the U.S. Bankruptcy appellate panel for the U.S. Court of Appeals for the Ninth Circuit addressed a matter of first impression associated with this process: namely, the issue of what happens when a debt that may be considered nondischargeable is later determined to be dischargeable, and more importantly, whether efforts to collect such a debt be exempt from penalties for violating the discharge injunction.
In this case, Reanna Leigh Irigoyen, the debtor in this case, borrowed funds to finance her education from a traditional student lender. The debtor disputed certain amounts with respect to this loan and commenced litigation in connection with the same. In order to finance that litigation, the debtor obtained a separate loan from 1600 West Investments LLC, a for-profit lender. That loan was later assigned to White Knight Funding LLC (White Knight, and together with 1600 West, the lenders).
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The LJN Quarterly Update highlights some of the articles from the nine LJN Newsletters titles over the quarter. Articles include in-depth analysis and insights from lawyers and other practice area experts.
Highlights some of the in-depth analysis and insights from lawyers and other practice area experts from the nine LJN Newsletters titles over the first quarter of 2024.