4 ms·
All of those debts are dischargeable in bankruptcy, those loans were written based on the credit history of the borrower (excl. medical), and some of those loan
by quickthrowman 4y ago
All of those debts are dischargeable in bankruptcy, those loans were written based on the credit history of the borrower (excl. medical), and some of those loans (mortgages and car loans) are secured with collateral that can be repossessed and liquidated.
None of those things are true for student loans.
- mikece 4y agoStudent loans can be discharged in bankruptcy: https://www.investopedia.com/how-to-file-student-loan-bankruptcy-4772237 https://www.investopedia.com/how-to-file-student-loan-bankru...
- WarOnPrivacy 4y ago> Student loans can be discharged in bankruptcy: Mostly false. I prepped and processed bankruptcies for two years and I only came across one instance where a student load was dischargable under chapter 7. IIRC, under a Chapter 13, they can be consolidated as an unsecured debt. I only did a few Chapter 13s so I'd have to go back and reread that part.
- RhysU 4y agoThen let us collectively agree to revisit and improve those bankruptcy laws, thereby improving our society going forward. Instead, we said that's too hard and skipped over the legislature in a one-time hack.