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.
Credit card debt is almost the same as it was 10 years ago, vehicle debt is only modestly higher, but student loan debt is 4 TIMES as much.
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.
Most garnishments are stopped immediately if you file bankruptcy, but some may be able to continue later. Here’s how to prevent that.
It’s not easy to write off student loans, but the right timing can help. Chapter 13 gives you more power over the timing.
Whether you can write off your student loan could very much depend on WHEN you ask the court for a determination of “undue hardship.”
The discharge–write-off–of student loans may be made more likely with smart timing.
Income has gone down since the official end of the recession in spite of more education.
Student loans are difficult to write off in bankruptcy because the standard for doing so is very tough. But you might still qualify.
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