Legal Question in Bankruptcy in Mississippi
Student loans and bankruptcy
Can student loans due over 7 years ago still be discharged in a bankruptcy that was filed before October 1998?
Asked on 1/18/99, 2:30 am
1 Answer from Attorneys
Daniel Press
Chung & Press, P.C.
Re: Student loans and bankruptcy
Yes. The cutoff is 10/7/98. If the bankruptcy was filed on or before that date, student loans are dischargeable under the old 7-year rule (the loan first became due before more than 7 years (exclusive of any applicable suspension of the repayment period) before the date of filing of the petition.)
If filed 10/8 or later, student loans are only dischargeable upon a showing of undue hardship.
Daniel Press
Chung & Press, P.C.
6723 Whittier Ave., Suite 302
Answered on 1/27/99, 9:22 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
