I agree in part, but from everything I have read it says the debtor can choose to reject or assume the contract, but as you have said the final decision lies with the trustee and he/she makes thier decision based on whether or not it would make business sense to reject the contract (or if accepting it would lead to some kind of money for the creditors).
Albiet most of the case law I have been studying is related to large corporations. If the contract is determined to be executory and rejected it is considered terminated the day before filing and any financial obligations resulting from the termination of the contract become unsecured debt (to simplify things) and are treated as any other unsecured debt.
I am also not convinced that this contract would be considered executory (in fact im pretty sure its not), i cannot find specific case law in which the debtor was the employee in a service contract.
I have no doubt an (any) attorney could easily handle me in court, they could probably convince the judge that I am not even who I say I am and I would be unable to stop them
. I signed the contract almost two years ago and I cannot fullfill the contract for at least another year because the position requires me to finish school first. It is an "at will employment contract" and many people that have signed with this agency have changed thier major during the course of school, it happens. For this to be construed as fraud seems like a stretch to me, but I will take your advice and read up on it. I know that all of the other people that have terminated the contract with this agency before graduating have just had to pay the money back, no charges brought in court. Lets just say it "seemed like a good idea at the time" because i felt certain i wanted to be in this field. Actually the agency itself is the one that has been pushing to get the contract terminated (but they want me to initiate it obviously) they have sent me several emails since i moved back home (an hour away) saying, "we need to talk about your contract and your future with xxxx, it may not be reasonable now that you live in xxxx".
Most likely when the trustee asks me i will voice that i wish to reject the contract, but i understand that the monies paid to me are not dischargable in BK. If he asks why i wish to reject I will tell him the whole truth (moved, bad relationship with future employer, changing field upon graduation in the form of going to grad school). Or possibly I dont need to tell him anyhting at all, just the fact that I wont be fullfilling the contract and why.
But i will drop this argument because 1) you are defenitley more knowledgable about the subject and it would be smart for me to listen, 2) I have perhaps left out too many little pieces of information from the situation as a whole (such as the ones above), 3) It doesnt help me to argue with the guy that posts the most (and best) answers on this forum (im sure ill have more questions before this process is done).
Albiet most of the case law I have been studying is related to large corporations. If the contract is determined to be executory and rejected it is considered terminated the day before filing and any financial obligations resulting from the termination of the contract become unsecured debt (to simplify things) and are treated as any other unsecured debt.
I am also not convinced that this contract would be considered executory (in fact im pretty sure its not), i cannot find specific case law in which the debtor was the employee in a service contract.
I have no doubt an (any) attorney could easily handle me in court, they could probably convince the judge that I am not even who I say I am and I would be unable to stop them
. I signed the contract almost two years ago and I cannot fullfill the contract for at least another year because the position requires me to finish school first. It is an "at will employment contract" and many people that have signed with this agency have changed thier major during the course of school, it happens. For this to be construed as fraud seems like a stretch to me, but I will take your advice and read up on it. I know that all of the other people that have terminated the contract with this agency before graduating have just had to pay the money back, no charges brought in court. Lets just say it "seemed like a good idea at the time" because i felt certain i wanted to be in this field. Actually the agency itself is the one that has been pushing to get the contract terminated (but they want me to initiate it obviously) they have sent me several emails since i moved back home (an hour away) saying, "we need to talk about your contract and your future with xxxx, it may not be reasonable now that you live in xxxx". Most likely when the trustee asks me i will voice that i wish to reject the contract, but i understand that the monies paid to me are not dischargable in BK. If he asks why i wish to reject I will tell him the whole truth (moved, bad relationship with future employer, changing field upon graduation in the form of going to grad school). Or possibly I dont need to tell him anyhting at all, just the fact that I wont be fullfilling the contract and why.
But i will drop this argument because 1) you are defenitley more knowledgable about the subject and it would be smart for me to listen, 2) I have perhaps left out too many little pieces of information from the situation as a whole (such as the ones above), 3) It doesnt help me to argue with the guy that posts the most (and best) answers on this forum (im sure ill have more questions before this process is done).
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