Category Archives: Student Loans

Student Loans

Student loan debt is larger than credit card debt. We usually consider issues of debt relief with respect to credit cards, medical bills, business debts, mortgages, and other similar debts. But a student loan debt is often the biggest debt that confronts individuals and their families. Unlike other debts, the student loan debt may appear to be unsolvable, but potential solutions are available. Bankruptcy and non-bankruptcy student loan remedies should be reviewed. Student loan debts usually cannot be discharged in chapter 7 bankruptcy. The burden of establishing “undue hardship” is extremely high. A lawsuit within a bankruptcy case called an adversary complaint must be filed to establish an undue hardship. There is also legal authority that can permit a partial discharge based on undue hardship to eliminate a portion of the student loan debt. These remedies are more likely to be successful as to private student loans then non-private student…
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