bankruptcy ohio laws
In Bankruptcy law in what cases could student loans be included?
I live in Ohio and my husband and I are filing bankruptcy. I was reading about bankruptcy laws and saw where it said that student loans could be included if the judge ruled that it would cause undue hardship. What does this mean, and when is it considered an “Undue hardship”
Student loans are generally not dischargeable, and each request is considered by the bankruptcy judge. Should a debtor be totally and permanently disabled and have no reasonable expectation of earning income for the remainder of the debtor’s life, that might be discharged — unless the judge found an expectation of inheritance, etc. (and believe me, they will investigate!) Terminal illness may also be considered to constitute undue hardship. Mere poverty, other obligations, and inconvenience are not considered undue hardship in bankruptcy court when tax dollars are up for discharge. It’s really tough to meet! Your attorney can give you advice on this issue, and will be able to research the cases for any applicable precedents. I trust you have an attorney. If not, you need one! (If a bankfuptcy is filed and then thrown out, which can happen by errors and omissions in the filing as well as anything the court considers fraud, all discharged obligations are immediately in full force, and the debtor is barred from re-filing for bankruptcy for quite some time.)
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