Tag: student loans
Discharge of Student Loans in Bankruptcy: Exception to Rule
Discharging student loans in bankruptcy occurs only as an exception to the rule. Chapter 7 bankruptcy discharges garden variety unsecured debt, largely credit cards. But, student loans are different. To discharge student loans there must be proof that payment imposes an undue hardship as defined in bankruptcy law. Many courts […]
Bankruptcy: Student Loan Debt Crisis
Student Loan debt in the United States, now at $1 Trillion Dollars, is called “the next debt bomb” for the U.S. Economy. Total U.S. student loan debt now exceeds the volume of credit card and auto loan debt combined according to the Associated Press. The head of the National Association […]
