Even before there was a Bankruptcy code, Congress did not want people walking away from their loans. And showing an ‘undue hardship’ has become more difficult over time as well.
Philadelphia, PA (PRWEB) December 31, 2015
Taxes, marital support and student loans. None of these are dischargeable under Chapter 7. Or are they?
Watch The American Law Journal television new video now online ”Student Loans (and Other Things) You Can Never Discharge Under Bankruptcy?”
Host attorney Christopher Naughton welcomed Pennsylvania debtor’s attorney George Lutz, creditor’s counsel Jon Pearson of Ballard Spahr and consumer rights attorney Mark Cuker of Williams Cuker Berezofsky. The attorney panel examined how student loans have been characterized so differently compared with mortgages, auto loans and credit card debt.
”BAPCPA (the ‘new’ bankruptcy laws of 2005) made it slightly more difficult to write off student loans, but that pertained to private loans, which makes up a vey small segment of the student loan population,” said Pearson in the discussion. “Even before there was a Bankruptcy code, Congress did not want people walking away from their loans. And showing an ‘undue hardship’ has become more difficult over time as well.”
About The American Law Journal
The American Law Journal is the weekly talk-feature program airing Monday evenings on the CNN-News affiliate for Philadelphia WFMZ-TV 69. All programs are available at http://www.LawJournalTV.com.
The program won an Emmy for the program "Sexual Orientation, LGBT & the Workplace: ENDA of Discrimination?" in the Interview/Discussion category of the 2015 Emmy Awards in the Mid Atlantic chapter of the National Academy of Television Arts & Sciences. The program was also nominated in three other categories.