Benji was a medical student who had low expenses, low income and a great credit score. His sister Sharla took out a real estate loan from Big Bank in Benji's name, using his good credit. Benji did not receive any of the loan proceeds. Ultimately, the loan went into default. The lender sued Benji and got a judgment against him in the amount of $800,000.

Today, Benji is a successful doctor. He is a homeowner with a house in Los Angeles valued at $600,000 and a secured mortgage (a secured loan) on the house of $500,000. He is 45 years old and married. Other than the house, his assets are minimal. He still owes $50,000 on student loans, which he pays monthly.

How would Benji benefit by filing under Chapter 7 of the bankruptcy code? In your answer, please discuss the $800,00 judgment against him from Big Bank, the $50,000 student loan debt and how his house would be treated in a Chapter 7 bankruptcy.

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