1.Click anywhere in the box below & press Control A to select all.What are student loans?
Student loans are generally loans that people take out to finance secondary educations- college & university fees.
So, what is the treatment of student loans in consumer bankruptcy?
Generally speaking, student loans are not dischargable in bankruptcy proceedings outside of extreme hardship.
While student loans are unsecured loans, they are rarely discharged in Chapter 7 cases.
There are many theories as to why that is…one of the more popular being that many students would file for bankruptcy after graduation just to start clean with a somewhat free education.
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2 Comments
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