Category Archives: Student loans

Student loan debtors need not go begging, and need not avoid bankruptcy either

If you have been looking into bankruptcy, and have a lot of student loan debt, you probably have discovered that it isn’t easy to wipe out these loans in bankruptcy court. Eliminating a student loan requires filing an adversary proceeding (a fancy name for a lawsuit) in addition to the basic bankruptcy case, and then […]

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Worried about your debts? Just be thankful you’re not a lawyer!

You think you have it bad? Something like this? “I don’t open the e-mail alerts with my credit score,” he adds. “I can’t look at my credit score any more.” But that’s not one of my bankruptcy clients talking — its a newly minted law school graduate. He’s only 27 years old, but has $250,000 […]

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Bankruptcy has a broad definition of what a student loan is

When it comes to student loans and bankruptcy, the news is typically grim all around. Student loans can’t be discharged through a typical Chapter 7 case, unless the debtor can prove they are an “undue hardship.” The procedure for claiming undue hardship involves filing suit against the lender and litigating with them; this will typically […]

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Creditors need to read their mail, too!

Around here we are very familiar with the phenomenon of debtors who at some point just give up and stop opening their mail. Every week, they bring in the unopened bills, and I open them and add them up! But what about a creditor who misses something important because they didn’t open the mail? Suprisingly […]

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Grad’s student loan debt hits $555,000!

Imagine waking up one day and finding that your student loan bills were more than half a million dollars. That is what has happened to Columbus, Ohio family practitioner Michelle Bisutti, according to the Wall Street Journal. She signed on for about half of that bill; when she graduated from medical school in 2003, she […]

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Thinking of erasing student loans by claiming hardship?

Recent changes to the bankruptcy laws make the elimination of student loans through filing bankruptcy very difficult. In particular, once the debtor has filed her case, she must then file a separate lawsuit in the bankruptcy court against the lender, and then prove to the court that the student loans are causing an “undue hardship,” preventing financial […]

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