2020

What Are The Conditions For Canceling A Student Loan In Bankruptcy?

One of the most pervasive myths in Chapter 7 bankruptcy law is that courts never discharge student loans. While there is a higher-clearing standard for the discharge of a student loan versus other types of debt, it may be possible. Let's look at what the standard is and what conditions might allow it. Undue Hardship In bankruptcy law, the standard for the discharge of a student loan is mostly centered on the notion of undue hardship.