Why can't you claim school loans on bankruptcy?
Jan Meriss Alfonso Assistant at Ascent Law LLC School Loans on Bankruptcy - Why You Can't Claim School Loans on Bankruptcy A bankruptcy filing does not automatically discharge a private student loan. You must meet additional criteria to discharge a private student loan. Generally, undue hardship is a requirement to discharge a student loan. But even if a private student loan is discharged, the debtor must show undue hardship in order to receive a discharge. Discharge of private student loans would still require undue hardship To qualify for a discharge of private student loans on bankruptcy, borrowers must meet certain criteria in order to qualify. First, they must show that they have an undue hardship in paying the loans. The circumstances that constitute a hardship will differ between courts, but most will require that the borrower show that they are unable to keep up with their monthly obligations or maintain a minimum standard of living. If you are filing for bankruptcy, you ...