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More Student Loans Getting Wiped Out in Bankruptcy

While it is true there are special requirements to meet in order to get student loan debt discharged in bankruptcy, more debtors are being granted elimination of the debt. Recent reports have reviewed a number of previous bankruptcy filings by consumers over the last few years that have included student loan debt, and the outcome [...]

By |2018-11-16T23:45:55-05:00July 15th, 2013|Student Loans|Comments Off on More Student Loans Getting Wiped Out in Bankruptcy

When Student Loan Debt Makes It Difficult to Pay Other Financial Obligations

Many people are under the impression that bankruptcy will not eliminate or discharge student loan debt. While this is true, it may not be the case for everyone. In some cases, student loan debt may be causing the household an undue hardship. This may allow student debt to be eligible for elimination, but even if [...]

By |2018-11-14T21:57:14-05:00July 2nd, 2013|Student Loans|Comments Off on When Student Loan Debt Makes It Difficult to Pay Other Financial Obligations

Some May Qualify for Student Loan Debt Discharge in Bankruptcy but Don’t Attempt To Do So

Debtors have heard over and over again that student loan debt is not eligible for discharge, unless they meet standards related to undue hardship. But, a recent study reviewed student loan discharges in bankruptcy with 4 out of 10 people being successful at getting their debt eliminated. While this may not seem like much, it [...]

By |2018-11-09T17:14:46-05:00March 8th, 2013|Student Loans|Comments Off on Some May Qualify for Student Loan Debt Discharge in Bankruptcy but Don’t Attempt To Do So

Senators Continue Push for Private Student Loan Debt Discharge in Bankruptcy

Could private student loans be eligible for discharge in bankruptcy?  The Fairness for Struggling Students Act of 2013 is legislation recently reintroduced to Congress that aims to get private student loans eligible for elimination under Chapters 7 , 11 and 13.  The Act is working to reverse changes made to the bankruptcy code back in [...]

By |2018-11-19T21:50:15-05:00February 25th, 2013|Student Loans|Comments Off on Senators Continue Push for Private Student Loan Debt Discharge in Bankruptcy

Congress Urged by Obama Administration to Include Student Loan Debt in Bankruptcy

While the push for student loan debt to be discharged in bankruptcy continues, the Obama Administration is pushing Congress to act on the issue. The Administration, along with other political figures, claims the bankruptcy code should be revised to allow student loan debt to be dischargeable.  While all types of student loan debt may not [...]

By |2018-11-16T21:24:53-05:00July 25th, 2012|Student Loans|Comments Off on Congress Urged by Obama Administration to Include Student Loan Debt in Bankruptcy

Student Loans and Bankruptcy

Student loan debt has been part of an ongoing debate when it comes to the subject of getting them discharged. While the debt in most cases cannot be discharged, a bankruptcy filing may help you gain advantages in repaying what is owed.  The only way student loan debt is discharged or eliminated is when an [...]

By |2018-11-16T22:39:17-05:00June 14th, 2012|Student Loans|Comments Off on Student Loans and Bankruptcy

Top Senate Democrat Joins the Push for Student Loan Bankruptcy Discharge

According to the Washington Post, earlier this week Senate Majority Whip Richard J. Durbin (D-Ill) called for rules to be changed regarding student loan debt being discharged in bankruptcy.  At a judiciary hearing Durbin addressed what consumer groups are calling the nations next potential "debt bomb."  The Federal Reserve Bank of New York claims close to [...]

By |2018-11-12T22:50:56-05:00April 4th, 2012|Student Loans|Comments Off on Top Senate Democrat Joins the Push for Student Loan Bankruptcy Discharge

Bankruptcy Group Pushes for Student Loans to be Dischargeable

The National Association for Consumer Bankruptcy Attorneys (NACBA) is pushing to have the bankruptcy code revised to change the way student loans are being treated according to a recent report by Reuters.  The bankruptcy group feels that college graduates should be allowed to get student loan debt discharged; an argument that is being presented to [...]

By |2018-12-13T09:44:54-05:00March 6th, 2012|Student Loans|Comments Off on Bankruptcy Group Pushes for Student Loans to be Dischargeable

More Americans Struggling to Pay Student Loan Debt

MSNBC recently did a report on the effects unpaid student loans are having on thousands of Americans, and from the looks of it the economy may suffer if those who owe on outstanding loans don't get the financial relief needed in order to stay afloat. More and more people owe thousands toward these loans and [...]

By |2018-11-13T21:24:09-05:00February 27th, 2012|Student Loans|Comments Off on More Americans Struggling to Pay Student Loan Debt

Student Loans Push College Graduates Into Bankruptcy

Student loan defaults increased from 7 percent to 8.8 percent in 2010 according to a report released by the U.S. Department of Education.  And many of those student loan borrowers who have fallen into default are filing bankruptcy hoping to receive some type of student loan debt relief. In 2010 13.6 percent of debtors filing [...]

By |2018-11-14T23:01:48-05:00December 1st, 2011|Student Loans|Comments Off on Student Loans Push College Graduates Into Bankruptcy