Can I File Bankruptcy On A "Career Training" Sallie Mae Loan? - is sallie government backed
have a private loan from Sallie Mae student that I think is called "Career Training" loans, or something similar. I only know that the government is not private but supported. Can you get rid of this type of loan in bankruptcy? I know the government guaranteed loans to students who are not eligible.
Saturday, February 13, 2010
Is Sallie Government Backed Can I File Bankruptcy On A "Career Training" Sallie Mae Loan?
1 comment:
No
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, the portfolio of student loans non-dischargeable student loans for all of Cover-profit organizations and NGOs.
Under current legislation, student loans can be discharged in a sample of the excessive burden on the bankruptcy. The basic rule of law is defined by Brunner v. New York State educ. Svcs. Brunner Corp., the borrower must determine:
1) The debtor can not maintain a "minimal" standard of living, when students forced to pay back loans.
2) In addition, there are circumstances which suggest that there are likely this condition for a significant portion of the loan.
3) If the debtor has a good faith effort to repay the loan.
A few notes:
The minimum average "minimum". If you pay your student loans, without recourse to life in a box under the bridge, which does not really trouble.
The other standard --refers to the idea that there is no real possibility that you can find a better job and improve their incomes. If you are disabled, this is not necessarily an absolute rule. If you are currently unemployed, but you have the skills for employment, the fact that you are fighting now there is no evidence to support the claim that the current state of affairs is likely to underpin persist for more than borrowing 10 or 15 years amortization .
Borrowers who can not pay your student loans "in time" are not entitled to bankruptcy. Borrowers in this situation is expected to negotiate a payment arrangement with the replacement lender.
I hope this information is helpful. Good luck.
Post a Comment