Discharging trainee Loans in Bankruptcy

Student Loans And Bankruptcy New Law - Discharging trainee Loans in Bankruptcy

I am excited to share with you a new reserved supply for information regarding learner loans as published by the National consumer Law Center. Their Borrower aid portal offers answers and and solutions to learner loan borrowers any way they do not supply legal advice. This issue has also attracted the attention of Congress who recently held an oversight hearing on the matter.

Student Loans And Bankruptcy New Law

Student Loans, in general, are not dischargeable in bankruptcy, absent undue hardship. 11 U.S.C. Section 523 (a)(8) provides that the debtor must show that the payment of the learner loan debt will "impose an undue hardship on the debtor and the debtor's dependents." Courts have interpreted this approved very restrictively, which makes it very difficult for even the most vulnerable to receive a discharge. A modern case, Booth v. U.S. Division of Education, et al., 10 Cbn 1093 (Bankr. E.D. Wash. 2009) held that debtors can prove undue hardship even if their income Contingent refund Loan agenda (Icrp) payments are zero. The Ninth Circuit Court asked, in Craig v. Educational credit management Corp., 19 Cbn 1039 (9th Cir. 2009), how the bankruptcy court thought the debtor could pay their learner loan.

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