Increasingly, one of the most common questions we're asked is whether you can discharge student loans in bankruptcy. Until 1998 student loan debtors were able to discharge some loans if they were old enough. But in 1998 Congress changed the law to make it harder to for student loan debtors to get relief. Restrictions on the discharge of student loans were first applied just to federal loans but in 2005 they were extended to private loans as well. This has created tremendous hardship for borrowers with ever increasing student loan debt.
Despite the increased restriction on discharging student loans in bankruptcy, it is still possible under some circumstances and some recent court decisions in Iowa and the 8th Circuit, where Iowa is located, has provided some hope for borrowers. To get a discharge, student loan borrowers must prove that they have an "undue hardship". In Iowa the test for determining what makes an undue hardship is (1) the debtor's past, current, and reasonably reliable future financial resources; (2) the debtor's and the debtor's dependent's reasonably necessary living expenses; and (3) any other relevant facts and circumstances. The 8th Circuit Court of Appeals recently used this test to discharge the student loans of a family with children with significant medical issues and a bankruptcy judge in Iowa also recently used the test to discharge the student loans of a family with income so low that they would never be able to repay all the loans.
This recent case history illustrates that although it's difficult to prove an undue hardship sufficient to get a discharge of student loans in bankruptcy, it's not impossible. If you think you have the right circumstances to warrant a student loan bankruptcy discharge, please email us at melissaatthompsonlaw@gmail.com so we can review your case.
For more information go to my website at www.thompsonlawoffice.net.
6 comments:
Hello Everybody,
My name is Mrs. Monica Roland. I live in UK
London and i am a happy woman today? and i
told my self that any lender that rescue my
family from our poor situation, i will refer
any person that is looking for loan to him,
he gave me happiness to me and my family, i
was in need of a loan of $250,000.00 to
start my life all over as i am a single
mother with 3 kids I met this honest and GOD
fearing man loan lender that help me with a
loan of $250,000.00 U.S. Dollar, he is a GOD
fearing man, if you are in need of loan and
you will pay back the loan please contact
him tell him that is Mrs. Monica Roland that
refer you to him. contact Mr. Anthony Hampton
via email: (easyloans03@gmail.com)
Be careful here. Nobody can help you here or even suggest how you can get financial help. Any answer of a loan lender to your question, you MUST ignore,because they are SCAMS…real SCAMS…i was a victim of which i was ripped thousands of dollars…well thank God for a Christian sister who referred me to a loan organization formed by some Christian Women. it is called Christian women Trust-funds Cooperative Organization (C.W.T.C.O)christainwomentrustloans@gmail.com They made my life a valuable one and gave it a meaning. When the sister gave me their contact, I contacted them. Then I requested for a loan with all the necessary evidence to prove that I actually needed a loan, they approved a loan of $60,000.00 USD and in 48 hours after meeting up to their necessary requirements, my loan was deposited in my bank account without collateral. Though i was very nervous with the loan organization at first due to my previous bad experiences, especially when the issue of me settling the transfer charges came up, I hold on to my faith due to the fact that my relative referred me, got it cleared,and as God should have it, little did I know that my financial shortcomings has come to a final HALT. If not for that quick referral from a christian sister to that genuine source ,I would have regretted my total life,because at that point in time i just divorced the father of my son, and my son (Kennett) was faced with a life and death situation. I was faced with his hospital bills and i was also faced with foreclosure at my apartment. Details of this GOD-SENT organization won’t be disclose for now for fear of impersonation ( because it has been discovered that some persons are not really in need of financial help, but they just want to collect money from this genuine christian loan organization). And it is because of this reason they don,t give out loan anyhow. You must be able to convince them very well, and provide good proofs to show that you really need a loan before they can approve it for you. Their charge is very affordable and reliable compare to many out there,their interest rates is just 2%,little documentation,and little credit check. As i have earlier said, for security reasons i can only provide their email address. Embrace this new initiative.Feel free to contact them via Email(christainwomentrustloans@gmail.com) as their loan officer/rep sir perry smith will attend to you and you will be free from scams and financial burdens
My name is Ms Karen Clark, i am from California USA, married, i have been searching for a genuine loan company for the past 1 year and all i got was bunch of scams who made me to trust them and at the end of the day, they took all my money and left me moneyless, all my hope was lost, i got confused and frustrated, i lost my job and find it very difficult to asist my hunsband in family issue like children shool fees and feeding, i never wanted to do anything with loan companies on net anymore, so i went to borrow some money from a friend, i told her all that happened and she said she can not help me, that she knows a loan company that can help me, that she just got a loan from them, she directed me on how to apply for the loan, i did as she told me, i applied for a loan of $100000, i never believed but i tried and to my greatest surprise i got the loan in 15hours, i could not believe my eyes, i am happy and rich today and i am thanking God that such loan companies like this still exist upon this fraudstars all over the places, please i we advise everyone out there who are in need of loan to go for Mr Donald Williams Loan Company, tell him that karen clark from California refer you to his firm service.here is the email: donaldwilliamsloanfirms@gmail.com
My name is Ms Karen Clark, i am from California USA, married, i have been searching for a genuine loan company for the past 1 year and all i got was bunch of scams who made me to trust them and at the end of the day, they took all my money and left me moneyless, all my hope was lost, i got confused and frustrated, i lost my job and find it very difficult to asist my hunsband in family issue like children shool fees and feeding, i never wanted to do anything with loan companies on net anymore, so i went to borrow some money from a friend, i told her all that happened and she said she can not help me, that she knows a loan company that can help me, that she just got a loan from them, she directed me on how to apply for the loan, i did as she told me, i applied for a loan of $100000, i never believed but i tried and to my greatest surprise i got the loan in 15hours, i could not believe my eyes, i am happy and rich today and i am thanking God that such loan companies like this still exist upon this fraudstars all over the places, please i we advise everyone out there who are in need of loan to go for Mr Donald Williams Loan Company, tell him that karen clark from California refer you to his firm service.here is the email: donaldwilliamsloanfirms@gmail.com
Good day Sir/Ma,
I am Dr Dan Luck, And i do work under a loan firm KNOW AS BEVERLY MORE LOANS INVESTMENTS!!! And this firm was established in 1983,As it was registered manually by the federal government. AND SINCE THAN WE HAVE BE GIVING OUT LOANS TO INDIVIDUALS BY MEETING THEM ONE ON ONE OR THE CLIENT COMING DOWN TO MY COUNTRY WHICH WAS SO EXPENSIVE FOR SO MANY OF MY CLIENTS.But recently we discovered that there are so many FAKE LOAN LENDERS AND SCAMMERS ONLINE THAT DO SCAM PEOPLE OUT OF THERE HARD END MONEY,ALL IN THE NAME THAT THEY ARE LOAN LENDERS THAT THEY CLAIM TO BE BUT ALL ARE SCAMMERS AND FRAUDSTERS. THIS HAS REALLY BROUGHT BAD NAME TO THIS LEGITIMATE AND REPUTABLE LOAN FIRM.So because of this we decided to take or order for lending certificate from the federal government to START GIVING OUT LOANS ONLINE,I MEAN ON NET,IRRESPECTIVE OF YOUR COUNTRY AND LOCATION IN THE WORLD. So i Dr Dan Luck, Working under BEVERLY MORE LOANS INVESTMENTS!! Have come to put away that impression that is IN EVERYONE'S MIND THAT THERE IS NO LONGER REPUTABLE LOAN LENDERS ONLINE OR ON THE INTERNET!!BEVERLY MORE LOANS INVESTMENT IS HERE TO PROVE IT WRONG NOW.INDIVIDUALS IN NEED OF LOAN THAT HAS BEEN SCAMMED AND THE ONES THAT HAS NOT BE SCAMMED SHOULD SEND THERE CONTACTS TO US VIA EMAIL SO AS WE CAN TELL AND START WITH THE LOAN PROCEDURE AT ONCE;beverlymoreloans@hotmail.co.uk for application for any kind of loan and amount.
Good day Sir/Ma,
Here again is another kind of description about this loan firm called Beverly More loans Investment, I am working here and i Dr Dan Luck is the Chairman of financial department in this loan firm and i respond to incoming and outgoing mails that come in regards to needing a loan from this loan firm. We are international financial company and we are offering loans to interested persons for any purpose. We offer both Educational loans, Agricultural loans, Personal loan,Construction loans, Start-up funding, Real estate loans, Investors loans, Mobile home loans,Debt free loans,Expansion/purchase loan e.t.c to any persons and company that is interested in this reputable loan firm know world wide. So everybody out there that need financial help in form of loan that have been turned down by banks or other lenders because of your credit rate, Our company is here to assist you. We also work with Brokers who are capable of referring applicants to us and we pay them each month depending on the number of persons they refer to us a month. If you need a loan of any kind, do contact us through this email address:beverlymoreloans@hotmail.co.uk for your loan. Note all in need of loan form this reputable loan firm, We grant loan to those that are serious / ready to acquire loan and also if you are applying for a loan here you must be a Christian or a Muslim, As we grant loans to those that have sincerity in them.
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