Chapter 13 bankruptcy is a repayment approved by the bankruptcy court based on your income. While student loans are almost impossible to get discharged in bankruptcy, you can use the filing to help you reduce the amount you pay or you can delay making payments during the Chapter 13 repayment period. Students loans can be [...]

A recent report completed by the Center for American Progress looks at how the economy could benefit from student loan discharge. While getting student loan debt eliminated in bankruptcy can be done only under strict circumstances, many hope lawmakers reconsider making changes to a bankruptcy law that dates back to the mid-1970s that made getting [...]

The Center for American Progress (CAP) released a report that suggests Congress should reclassify how student loan debt is discharged in bankruptcy. The report encourages Congress to review laws for both private and federal loans and how they could be handled in bankruptcy. Currently, student loan debt is almost impossible to discharge and it has [...]

While it is true there are special requirements to meet in order to get student loan debt discharged in bankruptcy, more debtors are being granted elimination of the debt. Recent reports have reviewed a number of previous bankruptcy filings by consumers over the last few years that have included student loan debt, and the outcome [...]

Many people are under the impression that bankruptcy will not eliminate or discharge student loan debt. While this is true, it may not be the case for everyone. In some cases, student loan debt may be causing the household an undue hardship. This may allow student debt to be eligible for elimination, but even if [...]

Debtors have heard over and over again that student loan debt is not eligible for discharge, unless they meet standards related to undue hardship. But, a recent study reviewed student loan discharges in bankruptcy with 4 out of 10 people being successful at getting their debt eliminated. While this may not seem like much, it [...]

Could private student loans be eligible for discharge in bankruptcy?  The Fairness for Struggling Students Act of 2013 is legislation recently reintroduced to Congress that aims to get private student loans eligible for elimination under Chapters 7 , 11 and 13.  The Act is working to reverse changes made to the bankruptcy code back in [...]

While the push for student loan debt to be discharged in bankruptcy continues, the Obama Administration is pushing Congress to act on the issue. The Administration, along with other political figures, claims the bankruptcy code should be revised to allow student loan debt to be dischargeable.  While all types of student loan debt may not [...]

Student loan debt has been part of an ongoing debate when it comes to the subject of getting them discharged. While the debt in most cases cannot be discharged, a bankruptcy filing may help you gain advantages in repaying what is owed.  The only way student loan debt is discharged or eliminated is when an [...]

According to the Washington Post, earlier this week Senate Majority Whip Richard J. Durbin (D-Ill) called for rules to be changed regarding student loan debt being discharged in bankruptcy.  At a judiciary hearing Durbin addressed what consumer groups are calling the nations next potential "debt bomb."  The Federal Reserve Bank of New York claims close to [...]