White House Floats Bankruptcy Process for Some Student Debt

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March 3, 2015
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March 12, 2015
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White House Floats Bankruptcy Process for Some Student Debt

WASHINGTON—The White House is weighing steps to make it easier for Americans to expunge certain student loans through bankruptcy, opening the door for student debt made by private lenders to be treated on par with credit-card debt and mortgages.

Federal law prohibits student loans, from private lenders and from the U.S. government, from being wiped out in bankruptcy, except in rare circumstances. Other forms of consumer credit such as mortgages, credit-card balances and auto loans face looser requirements for being discharged in bankruptcy.

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If you have questions regarding Student Loans, Debts & Discharges, Bankrupcty Options and legal matters that are affecting you and your family, please do not hesitate to call KWW LLC  732-774-1212.

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