Legal Question in Bankruptcy in California
student loans
I need to know if its possible to file BK against student loans.
2 Answers from Attorneys
Re: student loans
Verily a loan officer will fit through the eye of a needle before you.can discharge a student loan through a BK, which is why student loans are such a racket and why billionaires who made their fortune through student loans sit on the boards of colleges and decide how much to raise tuition. But I digress.
Student loans can only be discharged in a BK if there is "undue hardship," which has been interpreted very, very strictly. The Pope will officiate at your same-sex marriage before a bankruptcy judge will find "undue hardship."
Yesterday the US Supreme Court agreed to decide a procedural issue on this point. The 9th Circuit Court of Appeals had softened the rule a little bit, expect the Supremes to side with the loan companies.
Re: student loans
I Wish!!! When that becomes possible, someone please email me, and I'll be hiring a bankruptcy attorney same day.
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