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Student Loans Would Again Become Dischargeable Under New Bill

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Student Loans Might be Dischargeable in 2017 – Jacksonville. – So everything might be changing in 2017! The bill has been named the Discharge Student Loans in Bankruptcy Act (H.R. 2366). In 2016, according to the Federal Reserve Bank of New York, the amount of student loan debt reached an all-time high of $1.3 trillion dollars.

Chapter 11 of NCLC’s Student Loan Law publication includes extensive information about discharging student loans in bankruptcy. The Resources section has more information about finding a lawyer to help you. When shopping around for a lawyer, make sure that you let the lawyer know that you want to discharge your student loans in bankruptcy.

Before the 1970s, student loan debt was dischargeable in bankruptcy. Then Congress required student loan borrowers to repay for five years.

The bill, which is supported by 14 Democrats, one Republican and one. their student loans during bankruptcy as a last resort,” said John Katko, R-New york.. changed again, and now people with federal or private student loans can. “Both federal and private student loans should be dischargeable in.

The bill would eliminate the section of the bankruptcy code that prevents federal students loans and private student loans from being discharged in bankruptcy. Under the bill, student loans would become dischargeable like all almost all other forms of consumer debt, including mortgages, credit cards, and medical debt.

Bankruptcy rules on student loan debts should ease up, new. Getting out from under crushing student loan debt might become a little easier if new proposed. that would allow borrowers to discharge student loans in bankruptcy seven. discharged in bankruptcy if it's clear that paying back the debt would.

The most likely scenarios under which a borrower might be able to obtain a bankruptcy discharge of his or her student loans include: The student loan was borrowed to pay for college costs at a school that is not eligible for Title IV federal student aid. Outstanding student loan debt in the United States. of the State of New York, the third.

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The most likely scenarios under which a borrower might be able to obtain a bankruptcy discharge of his or her student loans include: The student loan was borrowed to pay for college costs at a school that is not eligible for Title IV federal student aid.

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