September, 2012

It’s Easier to Get Struck By Lightning Than Discharge A Student Loan Obligation in Bankruptcy.

Check out 11 USC Section 523(a)(8) of the Bankruptcy Code.  In essence, it says that student loans cannot be discharged, except in situations of “undue hardship” on the debtor or debtor’s dependents.  That’s easy to say but hard to prove.  Why does 523(a)(8) even exist to except student loans from being discharged in bankruptcy?  Well,  Congress didn’t want...

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