Student Loan Dischargeability: All or Nothing ?
First prong: Inability to maintain minimal standard of living. Dire circumstances nor below poverty income is necessary. However, a spouse [or domestic] partner's income may count. IRS standards are considered but not the sole measure. A deficit after subtracting expenses from income may suffice.Second prong: Additional circumstances indicating debtor's financial condition likely to continue. While a "serious" illness or "certainty of hopelessness" is not a requirement, the courts take the following factors into account: 1] serious mental or physical disability of debtor or debtor's dependents; 2] debtor's obligations to care for dependents; 3] lack of, or severely limited education; 4] poor quality of eduction; 5] lack of usable or marketable job skills; 6] underemployment; 7] maximized income potential in chosen field and no more lucrative job skills; 8] limited years remaining in work life; 9] age or other factors limiting retraining or relocation; 10] lack of assets; 11] potentially increasing expenses outweighing potential appreciation in assets or income; and 12] lack of better financial options elsewhere.
Third prong: Debtor's good faith effort to repay. Efforts to repay can include debt consolidation, deferment and/or attempts to negotiate. Efforts can be shown by maximizing professional or personal resources and minimizing expenses. A time lapse does need to occur between graduation and the filing. Immediate filing after graduation can show bad faith.
|
Jonni | 2012-01-02 20:33:16 | reply
Grade A stuff. I'm unquestoianbly in your debt. |
 |
Blondie | 2012-04-29 06:01:55 | reply
Calinlg all cars, calling all cars, we're ready to make a deal. |
|
Ali | 2012-05-01 22:08:37 | reply
Didn't know the forum rules alolwed such brilliant posts. |
|
Rosa | 2012-01-02 21:29:01 | reply
This is what we need - an inishgt to make everyone think |
|
Xzktqbe | 2012-01-03 06:45:19 | reply
1fIQrW , [url=http://qepvrwnbxkza.com/]qepvrwnbxkza[/url], [link=http://afgudhpiljbl.com/]afgudhpiljbl[/link], http://vmrrbrioofkf.com/ |
|
Xdwmbpnm | 2012-01-03 07:35:16 | reply
U0Hf2r , [url=http://rtgsxkzirrko.com/]rtgsxkzirrko[/url], [link=http://zuresoontspe.com/]zuresoontspe[/link], http://ikohlobcxkmq.com/ |
|
Gkakty | 2012-01-03 12:58:24 | reply
HTmWeZ <a href="http://dxxwroomwxgh.com/">dxxwroomwxgh</a> |