To get your student loans discharged in bankruptcy, you’ll need to prove that they cause you “undue hardship.” Borrowers can choose between Chapter 7 and Chapter 13 bankruptcy, but they must ...

However, not all unsecured debts can be discharged under Chapter 7. "Taxes, student loans, and child support obligations are generally not dischargeable in bankruptcy," Mortenson says. When it ...

According to studentaid.gov, proving undue hardship requires the bankruptcy court to recognize one of the following situations: That repaying your student loans would prevent you from maintaining ...

When Uniondale, N.Y.-based Natalie Jean-Baptiste graduated from law school with a six-figure student loan debt, it never occurred to her that she wouldn’t be able to pay it back. 9 Key Practices ...

Once you file, an automatic stay goes into effect, which is a powerful legal protection that stops creditors from pursuing ...

"It may be difficult to qualify for a loan after filing Chapter 7, especially if the bankruptcy was recent," Griffin says. Whether you qualify will likely depend on several factors, such as ...

Bankruptcy is one of those topics that nobody wants to become an expert in, but sometimes you have no choice. The good news is that compared to 2021, there have been fewer bankruptcies in the U.S ...

This way, you can decide which path makes the most sense for your unique situation. For Chapter 7 bankruptcy, applicants must pass a means test to prove they lack sufficient disposable income to ...

Davis (IL-7), and Eric Swalwell (CA-14), put forward the Private Student Loan Bankruptcy Fairness Act, "a measure to provide critical relief to those in severe financial distress because of ...

The two most common types of bankruptcy for individuals are Chapter 7 and Chapter 13, each with its own eligibility criteria and debt repayment structure. How bankruptcy works. Ba ...