Consolidating student loans after bankruptcy Chat dirty sex uk
However, what might be called “student loan bankruptcies” are usually not advised for those who have little or no debt other than student loans.An Alternative within Bankruptcy Rather than seek discharge, some have successfully challenged the validity of a student loan on the grounds of breach of contract, fraud, or unfair or deceptive business practices (often when a for-profit school is found to have made deceptive claims of employability upon graduation).Also, to qualify as a nondischargeable student loan, the loan must be for a school that is eligible for a federal student aid program.If the school was not eligible, the loan is dischargeable.But they each carry their fair share of advantages and disadvantages. More than four million borrowers have defaulted on student loans, but if they’re hoping bankruptcy will bail them out, they better have a Plan B.
Considering your current income and expenses, you cannot maintain a minimal standard of living for yourself (and any dependents) if you are required to repay your student loans. Your current financial situation is unlikely to improve for a significant portion of the loan repayment period. You have made a good faith effort to repay your student loans.Bankruptcy courts apply various tests to determine whether there is undue hardship.