What Happens to Student Loan Debt When You File for Bankruptcy?
Admin on December 16, 2022 Posted in Bankruptcy Law, BlogFiling for bankruptcy is a difficult decision, especially when student loan debt is involved. No one wants to take on a burden of debt that they cannot pay off, but understanding the implications of filing for bankruptcy with student loan debt can help you make an informed decision about your financial future. Consult with Melanie […]
Federal Circuit Court Rules Some Student Loans Can be Discharged in Bankruptcy
Admin on December 9, 2021 Posted in Bankruptcy Law, Blog, Chapter 7 BankruptcyIn the recent circuit court case of Homaidan v. Sallie Mae, Inc., a federal circuit court held that a ruling by a New York bankruptcy court that private loans to pay for college education are not exempt from being discharged under the Bankruptcy Code’s Section 523. This section of the Bankruptcy Code excludes from discharge […]
Second Circuit Finds Certain Student Loans Can be Discharged
Admin on September 30, 2021 Posted in Bankruptcy Law, Blog, Recent Court Decisions, Student LoansThe Second Circuit in the recent case of In Homaidan v. Sallie Mae recently held that some kinds of private student loans do not require the repayment of debts that can be categorized as an educational benefit. This decision resulted in the Second Circuit joining the Fifth Circuit and Tenth Circuit on the matter. Neither […]
Potential Changes Looming With How Student Loan Debt is Handled During Bankruptcy
Admin on May 30, 2021 Posted in Bankruptcy News, BlogAdvocates are currently urging the United States Supreme Court to provide clarification about what debtors must establish to eliminate student loan debt in bankruptcy. Erasing student loan debt through bankruptcy is almost always difficult to do. Bankruptcy courts require a high standard of “undue hardship” to be established before student loan debt can be discharged. […]
Undue Hardship and Student Loans
Admin on September 8, 2017 Posted in Blog, Student LoansImagine that a boy grows up watching lawyer shows like Perry Mason, L.A. Law, and Law and Order. He is intrigued by what lawyers do, especially trial lawyers. After years of watching, he is enamored. He has dreams of becoming a prosecutor or a defense attorney. He will appear before a judge and jury and […]
Student Loan Debt
Admin on August 6, 2017 Posted in Blog, Chapter 13 Bankruptcy, Student LoansMany Americans carry significant student loan debt. In the beginning of 2017, there were 44 million people in the United States holding over $1.4 trillion in student loan debt. This number is greater than credit card debt by $620 billion. This is a 6% increase over 2016. What is more, there is a delinquency rate […]