Wednesday, January 23, 2013

Update: Student Loans

Sorry for the lack of recent posts.  Final exams took considerable time away from me.  I'll try to be better in the future.

I thought that I should briefly write about something important in the world of bankruptcy that has recently come to my attention.  A new study, discussed on a recent ABI podcast, reveals new data about the dischargeability of student loans.  Specifically, when debtors attempt to discharge their student loans, they are successful approximately 40% of the time.  This is in sharp contrast to we often hear in the media, that student loans are "nearly impossible," or sometimes even that they absolutely cannot be discharged.  It seems as though such media reports have produced a deterrent effect on debtors from even attempting to discharge their student loans.  For more details, I highly recommend listening to the podcast: http://news.abi.org/podcasts/125-study-on-student-loan-discharges-and-the-undue-hardship-standard

6 comments:

  1. It is entirely possible, however, that the reason the success rate is so high is precisely because most student borrowers know that they don't meet the standard (which is fairly well-settled), and they and their attorneys do not waste the time and money on an obviously futile adversary proceeding.

    ReplyDelete
  2. It is entirely possible, however, that the reason the success rate is so high is precisely because most student borrowers know that they don't meet the standard (which is fairly well-settled), and they and their attorneys do not waste the time and money on an obviously futile adversary proceeding.

    student loan consolidation

    ReplyDelete
  3. It's unfortunate the burden that student loans put on American citizens. Especially with the epic unemployment rates that accompanied the recession. Luckily, Indianapolis Bankruptcy isn't as significant as it could be with our high employment rates for new college graduates of current. We'll see if it remains that way as the years go by though.

    ReplyDelete
  4. my name is vicky from uk since the past 8yrs i have
    been doing a business which i wanted to florish, at
    a paticular time i was making profit from but at a
    at time i also loss more, my business was trumbling
    because i wanted more i went to the bank to get a loan
    200,000 dollars which i invested on my business 2weeks
    later robbers bust in my store and they took almost
    everything i have. and they burnt some part of the
    store that was 10,jan,2014 a partner called me that
    my store has been set ablaze at first i thought it's
    was a joke i decided to go work when i got there seeing
    my store burning so i just fainted since then past how
    many months i have been suffering MY STORE WAS LOCK DOWN
    AND I WAS NOW IN DEPT I DON'T KNOW WHAT TO DO BECAUSE OF
    THAT I GOT B.P EVERYDAY CRYING AND THINK this sep 14,2014
    i was about to chat on facebook to my friend to help for some
    job to gather some money so i can pay the bank. behold just
    as i was browsing network wasn't responding and i was redirected
    so voy-forum there i saw a comment posted by wallace how he face
    was about to get a loan online and get scammed that it was a man
    he saw helped him recover all his dept i scroll down i saw his mail
    and number. landofherbs@gmail.com i contacted behold it was a female
    and i explain everything to her with tears,she just told me calm down
    and wipe your tears because if you obey you are paying all your dept in
    12hrs of time, i said how, she told me told some money for items and i
    have no money and i went to borrow from my pals, i send it to her 2hrs
    later she mail me and told me send me your address i did and she tell me
    that someone is coming to me i said how she told me to go out of my house
    and i did i was going out from my house and was going i did not seeing any
    body just as i was about going home i met a man like a mad person he said
    help me please i never wanted but my mind told me help and just as i was
    about to carry his load for him he disappeared and i was afraid i ran on my
    way running i heard a voice saying STOP RUNNING AND GET BACK TO TAKE YOUR
    REQUEST so i went though i was still very afraid i opened the bag behold
    brethren i was loaded with money dollars i screamed!!! i quickly run home
    i hide myself that day i couldn't do anything because many things was coming
    my mind. the next day i want to the bank with the money i paid the bank i was
    still having up to 600,0000 dollars i opened another big store my store is the most
    biggest in our community in uk and i was still having a big money left which i save
    in the bank. and today i am a rich woman and my childre shall never suffer again.
    i want to tell you deptor a secret land of herbs is where you should go to recover all
    what you've lost yes she will request for money but it is to do your needs and do it
    perfectly she never lied great land of herbs i thank you very much for my life you've
    indeed save my life. so readers if your have any problems at all don't let this time
    of your opportunity pass you by. contact landofherbs@gmail.com or call +2347056105308
    she is a goddess sent to save life so don't doubt her because her charms is no prediction
    once again i thank you priestess of life..

    ReplyDelete
  5. Nice post.....!!!!!!!!
    Thanks for sharing it.
    Regards,
    Student Debt Center

    ReplyDelete