Thursday, October 20, 2011

Are student loans dischargeable in bankruptcy?

This year along, the debt on the student loans has gone out of control. With unemployment on the rise, what are the chances that these kids will repay these student loans in the next 10 years?????
Read this article

So, to answer the question of whether or not the student loans are dischargeable, I will simply say "They are not." Although, that is not completely accurate, it answers correctly the 99% of the questions. However, there is that 1% percent of cases, where student loans might become dischargeable and believe me, you do not want to be in that 1%. To discharge student loans in bankruptcy, one has to show that he or she is suffering such great financial hardship, which will not change at any foreseen time.

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