Things to understand
- Legal counsel with crippling education loan financial obligation and negative income that is monthly their financial obligation released in a NY bankruptcy court
- The main U.S. Bankruptcy judge in Manhattan stated a essential test had perhaps perhaps perhaps not been properly sent applications for years
- The lawyer, a Navy veteran, had seen their debt nearly dual since 2005
An attorney been able to get very very own his massive, years-old student financial obligation tossed down in ny bankruptcy court this week, after he was in a position to show the responsibility ended up being therefore huge he could never ever manage to spend it.
The ruling possibly has huge implications for other people suffering under crushing pupil financial obligation lots, since it condemns the typical belief that such financial obligation can not be released in bankruptcy.
Kevin Rosenberg took away figuratively speaking from 1993 to 1996 to fund university, invested 5 years into the Navy, then took away more loans to go to law college from 2001 to 2004.
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