Crocker Case Cracks Notion that Private Student Loans Can’t Be Discharged in Bankruptcy
Crocker Case Cracks Notion That Private Student Loans Can’t Be Discharged in Bankruptcy Photo above by James Wheeler from Pexels. (The horrible pun above the photo is the author’s, and is not the fault of James Wheeler.) Even people who know nothing about bankruptcy know that student loans are almost impossible to discharge in bankruptcy. This is unfortunate, since bankruptcy is the system charged with giving individuals relief from crushing debt and granting them a fresh start. The national student loan debt exceeds $1.5 trillion. This affects young people, of course, but more than 3 million senior citizens in the U.S. also have student loans. By any standard, this is an emerging crisis , and it has become a major issue in the 2020 presidential campaign . To this point, bankruptcy has provided very little relief to individuals struggling with student loan debt. The Fifth Circuit Court of Appeals is a federal court covering Louisiana, Mississippi