Big Pine Key, FL Bankruptcy Law Firms & Lawyers

As to your first question, yes you can seek to reopen your case at any time to litigate the undue hardship issue on the student loans.  In other words, there is no specific time limit.  You just have to be able to prove undue hardship as that term is defined by courts in the jurisdiction where your case is filed. As far as the lawsuit, that is an asset which must be listed on your bankruptcy papers.  If you truly have no idea whatever about what it is worth, then just put unknown and provide whatever details you have to the Trustee (name/address of your attorney, or evidence you have, etc.).    If the exemption laws applicable in your case allow you to exempt an asset like that (usually via a "wildcard exemption") you may want to take it on that.  Your bankruptcy attorney can advise you on that. Since you mention that you can also lose the lawsuit, you should also list the other party as a possible creditor in your bankruptcy case, just to be safe. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.    

If the truck was purchased during the marriage, and therefore the loan was incurred during the marriage, then the deficiency will likely be a marital debt that is subject to equitable distribution by the court between you. It should be listed on your financial affidavit as a liability in the marital debt column, or with the marital box checked. As a practical matter, if you are both on the loan and you surrendered the vehicle, and there is a deficiency, your credit most likely already shows a repossession or voluntary repossession, and the deficiency, on both of your credit reports. You could ask the court to utilize other marital assets, or cash, or the proceeds from sale of another marital asset to satisfy the deficiency.

Under Florida Statute 55.141, you can pay the clerk of court for the county in which the judgment was issued. The money will be placed into the registry of the court and you will receive a satisfaction of judgment.