Articles Tagged with Brunner test

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I get rid of student loans by declaring bankruptcy?”

In the United States, the cost of higher education is ever increasing. If you combine that with the difficulty of obtaining a reasonably salaried job after graduation, it is no surprise that student loan debt plagues graduates long after they graduate. An estimate of student loan debt currently owed in the U.S. is over $1.4 trillion dollars. Individuals with student loan debt may eventually fall prey to financial hardships. If an individual is struggling to pay bills and make ends meet, he or she may consider filing for bankruptcy. Student loan debt is often one of the largest debts a person can try to discharge in bankruptcy. However, it is extremely difficult for student loan debt to be discharged. There are specific and limited circumstances in which student loan debt will be discharged in a bankruptcy proceeding.

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Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “Can I get rid of student loans by declaring bankruptcy?”

Rapper Dee-1’s newly-released music video opens with a simple statement: “Student loan debt is out of control. In the U.S., over $1.2 trillion is owed in student loans.”

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Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “Do I need an attorney to file bankruptcy?”

A recent bankruptcy case out the Seventh Circuit Court of Appeals dealt with the increasingly thorny issue of student loan debt. Sadly, the Court ultimately ruled against the debtor in this case, holding that he had failed to make a good faith effort to repay his debt under the Brunner test. So what is the Brunner test and what impact does it have on a bankruptcy case? To find out more, keep reading.