Avoid Student Loan in Bankruptcy if no Educational Benefit
Posted on Dec 28, 2016 in Student Loans
Hope for Student Loan Debt
Did you get a student loan? Did your school let you down? Some courts have ruled that a student loan can be wiped out in bankruptcy if the school didn’t provide an “educational benefit.” if you went to an unaccredited school or one that scammed you, you may be able to wipe out your student loans in bankruptcy.
Is it an educational benefit?
You can’t get a discharge in bankruptcy for a student loan which you used for an educational benefit. But not every school provides an educational benefit. For example, in one case, the court held that a Bar Review Course was not an “educational benefit”. A school that is not licensed or accredited or is fraudulent may not provide an educational benefit either.
If you are a victim of a fraudulent school and stuck with big student loans as a result, contact me, David Leibowitz, at 847 856 7979, right away.