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How Justice Department changes have made student loan bankruptcy easier On Nov. 17, 2022, the Departments of Justice and Education announced changes in how student loan discharge will be treated ...
New guidance. In theory, student loan debt can be discharged in a bankruptcy proceeding. If the bankruptcy court approves the discharge, the debtor has to submit a separate filing to prove ...
More student loan borrows have successfully received debt relief through bankruptcy after the Biden administration made a policy change to make the process easier nearly two years ago, according ...
Second Circuit Court of Appeals ruled that private student loans are dischargeable in bankruptcy, [43] following two other cases. [44] In August 2021, the Biden administration announced it would use executive action to cancel $5.8 billion in student loans held by 323,000 people who are permanently disabled. [45]
Common exceptions to discharge include child support, income taxes less than three years old, property taxes, student loans (unless the debtor prevails in a difficult-to-win adversary proceeding brought to determine the dischargeability of the student loan), and fines and restitution imposed by a court for any crimes committed by the debtor.
There are 19 categories of debt excepted from discharge under Chapter 7, 11, and 12. Several types of debts are generally not dischargeable in bankruptcy under §523. These include certain taxes, such as payroll taxes, student loans, child support, alimony, and debts arising from fraud or intentional wrongdoing.
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