Student loans have trapped millions of the young into debt burdens that crush their hopes for decades. This book examines the way bankruptcy law treats student loans. It’s a grim story, but it would seem that more people could get relief from their loans than are getting it even under the harsh rules that currently exist.
This may be because those driven to bankruptcy by their student loans cannot hire bankruptcy lawyers who will do everything it takes to obtain relief for their clients.
About this Book
This is a long and detailed discussion of bankruptcy law and student debt. We spend very little time on the student debt – why and how people have it, etc., and almost all of the time on the law and cases. Thus this is not an easy read. We talk about the general legal principles, as established by federal law, and then examine the law by “circuit.” A “circuit” is a geographical area made up of several states, and the federal court system is set up in this way. Each circuit court of appeals controls the decisions of the federal courts in the states of the district. Bankruptcy is federal law, and the circuits vary widely in their interpretation of the bankruptcy laws.
If you have student debt, in other words, it very much matters where you are living.
As you will see, there are things you can do to affect your chances in bankruptcy, but on the whole, the picture is not promising. Hence the low price of this book. Under existing systems, I do not think this report will change much for many people. For a few, it may make a HUGE difference, though.
If you are struggling with student loans, then, I suggest you read this for an accurate idea of what you might do and what your chances of winning would be.