Legal Question in Bankruptcy in California

I have Tuition Answer loans from Sallie Mae, a form of uncertified private student loan. According to the online document "http://www.finaid.org/questions/bankruptcylimitations.pdf" certain types of private student loans may fail to meet the requirements for non-dischargeable status. In my case, these loans were in excess of the school's cost of attendance, and according to the document, would therefore not be "qualified higher education expenses" and would be dischargeable. I would like to verify that this is true and if so, they should be treated as regular consumer loans in bankruptcy.


Asked on 1/05/10, 5:54 pm

1 Answer from Attorneys
Brian D. Lerner Law Offices of Brian D. Lerner, A Professional Corporation

Hello:

It is not as easy as saying yes or no. An analysis must be made and then the Trustee and/or Bankruptcy Judge may disagree at which point it would be necessary to provide legal argument again.

Regards,

Brian D. Lerner

Attorney at Law

ebankruptcyatty.com

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Answered on 1/10/10, 8:42 pm


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