Photo by Tim Gouw on Unsplash. Chapter 13 gives you significant timing advantages better enabling you to demonstrate the required undue hardship to write off student loans. We’re in a series on the best timing for filing your bankruptcy case. Two weeks ago we introduced the special condition you have to meet to discharge (write off) student loans: undue hardship. … Read More
Photo by JESHOOTS.COM on Unsplash. You have to demonstrate undue hardship to write off a student loan. That often requires strategic filing of your Chapter 7 case. We’re in a series on the smart timing of your bankruptcy case. Last week we introduced the special condition you must meet to discharge (write off) student loans: “undue hardship.” Bankruptcy discharges other … Read More
Photo by Green Chameleon on Unsplash. Discharging—permanently writing off—student loans requires showing undue hardship. Smart bankruptcy timing can make this easier to do. Discharging Student Loans in Bankruptcy It takes certain circumstances to be able to discharge student loans. Those circumstances can involve the right timing of your bankruptcy case. Bankruptcy discharges most debts. But it “does not discharge” you … Read More
On September 6, 2016 the parent company of 136 ITT Technical Institute branches announced that it was closing. It immediately closed all of its classroom and online instructions across the country. It canceled the academic quarter that was to start on the following Monday, September 12, leaving about 45,000 students scrambling. ITT Tech had two locations in Louisville. One’s … Read More
Writing off a student loan in bankruptcy requires showing “undue hardship.” What is that?
Although it’s hard to get rid of student loans through bankruptcy, it’s worth knowing whether and how it can help.
Americans over 55 years old flunk the “student loan literacy” test. We have a generational divide in one of today’s biggest economic issues.
How well do Americans
Student loan borrowers are now buying houses and cars less, and have worse credit, than less educated people without student loans.
The delinquency rate has doubled in just 4 years, in 2012 alone increasing as fast as at the worst of the 2007-2008 mortgage crisis.
The best way to improve how student loan borrowers are treated is to change the incentives for their loan servicers. That happened this week.
The essential facts on the President’s action to allow 5 million more student loan borrowers to cap payments at 10% of their monthly income.
It’s not easy to write off student loans, but the right timing can help. Chapter 13 gives you more power over the timing.