The Federal Student Loan Bankruptcy Issue – Can I Eliminate My Debts?Ever since in the year 1998 the federal courts made serious changes to the bankruptcy laws, eliminating debts with federal student loan bankruptcy has been extremely difficult to say the least. The truth is these days the elimination of obligations for a federal student loan bankruptcy is rarely a viable option. Most of the time with a chapter 7 bankruptcy the majority of unsecured debts can be eliminated, but with… Filing Bankruptcy And Student Loans Don’t Always Go Down Well!When someone thinks of filing for personal bankruptcy and student loans make up a significant part of their debt, there is a fairly good chance the loans will not be discharged. In 1998, the year the government rules for bankruptcy were significantly changed, student loans where hit hard. Student loans were actually ruled to be non-dischargeable since a lot of financial institutions were simple losing to much money. Also, the… |
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