Discharging Student Loans in Bankruptcy: Important Legal Terms
Filing for bankruptcy can be a complicated and overwhelming experience, but understanding the legal terms associated with discharging student loans in bankruptcy is a crucial step in taking control of your financial future. When it comes to student loan debt, it’s important to understand the different types of loans and how they may or may not be affected by filing for bankruptcy. This article will provide an overview of some key legal terms related to discharging student loans in bankruptcy.
The first term to know is “dischargeable debt”, which refers to any type of debt that can legally be discharged or wiped out during a person’s bankruptcy case. Student loan debt is considered non-dischargeable unless specific circumstances are met such as undue hardship being proved.
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