Debt is always difficult, but student loans can be particularly so. Unfortunately, student loans are one of the few kinds of debt that cannot typically be discharged in a Chapter 7 or Chapter 13 bankruptcy. However, this does not mean there are no options left for people struggling with an academic loan. The laws vary from state to state regarding what is or is not dischargeable and under what circumstances.
Student loans may occasionally be...
Student loans typically are not dischargeable under bankruptcy law. That said, there are narrow exceptions.Even when student loans are found dischargeable under these narrow circumstances, it’s a challenge for a bankruptcy filing to discharge all student debt. Generally speaking, it’s not possible, unless the student can prove an “undue hardship.”Proving You Have an Undue HardshipThe definition of undue hardship may vary depending on who...
Overview
In the last decade, the average student loan debt of the college attendee has creeped its way to amounts upwards of $35,000, with total outstanding federal student loan debt doubling from $516 billion to $1.2 trillion between 2010 and 2015.
Are there ways to eliminate student debt obligations?
The answer can vary greatly. The most effective student loan relief options, and the protections of a borrower’s rights, are available in a...
Sometimes great sacrifices are made in the name of love, but as some relationships grow apart and divorce comes into the picture, things that were once lovingly offered can transform into incredibly painful obligations and losses. Chances are that you might have made some of those great sacrifices for love. One thing that ends up hurting many people is the fact that they helped pay off their spouse’s student loans before their spouse decided to...