Many Hope Student Loans Will Become Easier to Discharge
As the recession continues and more people are being saddled with significant debt burdens and increasing rates of default, the question continues to arise whether student loans should be discharged in bankruptcy. Prior to amendments a few years ago, it was common and acceptable for people to discharge their private student loans after seven years if they were unable to make the monthly payments. Unfortunately, due to changes resulting from BAPCA, it became virtually impossible to discharge your student loans unless you could prove to the court that you would be undergoing an inordinate hardship. The requirements to show the court that you had this kind of hardship are very strenuous and most people simply do not fulfill the required conditions. It takes a good lawyer to put on a good case for those facing student loan defaults. The Bartlett Law Firm, P.A. has experience handling student loan defaults in bankruptcy cases, for all chapters. Hopefully, though, with more and more people realizing the incredible burden student loans can create for those who are trying to restart their lives on a proper footing, legislation will eventually be passed making it easier for normal people to discharge their student loans like any other debt.
