Consensus Builds That Some Private Student Loans Can Be Discharged in Bankruptcy

Past month, the United States Court docket of Appeals for the Next Circuit, in Homaidan v. Sallie Mae, Inc., 3 F.4th 595 (second Cir. 2021), affirmed a New York federal court’s ruling that personal scholar financial loans are not explicitly exempt from the discharge in a chapter 7 bankruptcy, opening the door for additional debtors searching for to acquire relief from educational personal debt….
By: Nelson Mullins Riley & Scarborough LLP