Skip to content
Home » Compliance » Busting myths about bankruptcy and private student loans
a

Busting myths about bankruptcy and private student loans

Posted in Compliance, Deceptive practices, Education Loan Ombudsman, Info for consumers, Policy and compliance, Student Loans, and Students

This content was originally published by the Consumer Financial Protection Bureau. We selectively syndicate content from them when we feel it may help you to better understand how to manage your finances.

It is a myth that student loans are not dischargeable in bankruptcy. Some private student loans require a showing of “undue hardship” and an adversary proceeding within the bankruptcy in order for the loans to be discharged, while other types of student loans are treated the same as other unsecured consumer debt.

Click here to read the full post.