Wednesday, November 10, 2010

Student Loan and Bankruptcy

Student loan is not provided exemption under bankruptcy .If there is any example set for student loan bankruptcy than other student has asking for the same thing.

Student loan can come under the bankruptcy undersome special circumstances.

If the student is unable to pay debt in 7 years or he is not able to earn as much sufficient money to pay debt .

Unemployment and underemployment is not the criteria to to file bankruptcy .

There is some circumstances where you can be exempt from these .

If you take loan for the engineering study and you met with the accident and unable to earn sufficient amount to pay the debt than the student can file bankruptcy under chapter 7 bankruptcy.

In other condition you met with accident but you can able to pay debt but there is temporary disability than debtor able to pay debt after some time.

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