OK, sometimes. ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ??
But I spoke to the client today who had been told you
CANNOT discharge student loan debt in bankruptcy
unless you are totally disabled.
That just isn\’t what the law says.
Steve Rhode blogged about discharging education loan debt in bankruptcy.
I just settled this kind of lawsuit, or, adversary proceeding while we call them in bankruptcy court, through which we got rid of $75,000 of student loan debt. ?And got 2% interest on the rest.
These cases largely count on the judge, and you want a good case.
Not that there is anything wrong with any of the judges, just that the “undue hardship” from the bankruptcy code can be stringently interpreted.
From the Rhode post:
But today I need to to look at an assortment of cases up to now year or so where student loan debt was successfully discharged from a consumer bankruptcy action. These cases required a very advanced approach to deal with your debt, the filing of an Adversary Proceeding. Those attorneys that took for the challenge deserve a big hat tip for your investment of their time and effort. They are really blazing a path others may follow.
Hey, I will take that hat tip.
It is tough for my bankruptcy clients to uncover money to pay me to submit these student loan lawsuits.
I understand that.
But it is the only chance it is important to get rid of private student loan debt.
Rohde cites an instance in which a debtor got rid of $500,000 of education loan debt, incurred for his three children.
Divorced, at the age of 63, with little income, that debt should be discharged.
But the government is appealing choosing one.
DO NOT DESPAIR!!!
The client I obtained the $75,000 break for what food was in his 40s, making over $90,000 a year, with no disabilities.
There were other facts within the favor; during the lawsuit, he earned a deal on the government loans pursuant towards Income Based Repayment plan.
If you imagine you may have a basis for discharging your student loans in bankruptcy, contact me, and other expert.