Court rules student debt dischargeable in bankruptcy

[Swordsmyth]

For nearly 15 years, U.S. Navy veteran Kevin Rosenberg owed six figures in student loans.
But on January 7, 2020, a New York judge ruled (https://www.wsj.com/articles/upending-bankruptcy-myths-judge-erases-220-000-student-loan-debt-11578523767) that the $221,385.49 in student loan debt owed by Rosenberg as of November 2019 was dischargeable under chapter 7 bankruptcy.
“I have a chance now to have a life,” the 46-year-old Rosenberg told Yahoo Finance in an interview.
A bankruptcy expert told Yahoo Finance that Rosenberg’s case is a watershed in that it dispels the notion that student loans were not dischargeable in bankruptcy.
“What I found most fascinating, and I think heartening, is the very strong language that the judge used to call out on what she calls this quasi-mythic status of student loan non-dischargeability,” Jason Iuliano, an assistant professor of law at Villanova University and an expert on bankruptcy, told Yahoo Finance. “I've never seen it put quite so pointedly before in a judicial opinion like that.”

More at: https://finance.yahoo.com/news/student-loans-discharged-in-bankruptcy-kevin-rosenberg-190151284.html

[timosman]

LOL. My debt is dischargeable? Hold my beer. :D

[jkr]

where do i sign

[jkr]

LOL. My debt is dischargeable? Hold my beer. :D

no shit... ill be right back

[Slave Mentality]

Get ready for another bubble to pop.

[oyarde]

Slackers need to get to work . Do not borrow money for education.

[oyarde]

This guy made payments for 20 years , borrowed law school money , then decided lawyers were not ethical and quit . I would not discharge his debt unless the record states it is because of his mental capacity.

[nikcers]

Does that mean i can take out a bunch of student loans and blow the money and then file bankruptcy??

[phill4paul]

For nearly 15 years, U.S. Navy veteran Kevin Rosenberg owed six figures in student loans.
But on January 7, 2020, a New York judge ruled (https://www.wsj.com/articles/upending-bankruptcy-myths-judge-erases-220-000-student-loan-debt-11578523767) that the $221,385.49 in student loan debt owed by Rosenberg as of November 2019 was dischargeable under chapter 7 bankruptcy.
“I have a chance now to have a life,” the 46-year-old Rosenberg told Yahoo Finance in an interview.
A bankruptcy expert told Yahoo Finance that Rosenberg’s case is a watershed in that it dispels the notion that student loans were not dischargeable in bankruptcy.
“What I found most fascinating, and I think heartening, is the very strong language that the judge used to call out on what she calls this quasi-mythic status of student loan non-dischargeability,” Jason Iuliano, an assistant professor of law at Villanova University and an expert on bankruptcy, told Yahoo Finance. “I've never seen it put quite so pointedly before in a judicial opinion like that.”

More at: https://finance.yahoo.com/news/student-loans-discharged-in-bankruptcy-kevin-rosenberg-190151284.html

Bad news for Trump if/when this bubble bursts. If it did it would doom him in 2020. Progs would say banks are evil and if we had National Education, "free" tuition, the collapse would never had happened. But, IMHO it won't before the election. I wouldn't be surprised if he had to deal with it in his second term though.

[nikcers]

Bad news for Trump if/when this bubble bursts. If it did it would doom him in 2020. Progs would say banks are evil and if we had National Education, "free" tuition, the collapse would never had happened. But, IMHO it won't before the election. I wouldn't be surprised if he had to deal with it in his second term though.
Education bubble is already burst. Thats why prices are jacked. Trump will have to deal with it because they didn't do anything about it. Student loan debt increased exponentially when democrats had the white house. This is what is slowing the economy down otherwise we would be booming. If Trump loses his reelection there will be an economic crash.

[tod evans]

Does that mean i can take out a bunch of student loans and blow the money and then file bankruptcy??

Of course, jump right on it.

[nikcers]

Of course, jump right on it.

They denied me a loan. Said I would waste the money. How did they know?

[tod evans]

They denied me a loan. Said I would waste the money. How did they know?

Try again, surely you have some minority blood in your veins.

[nikcers]

Try again, surely you have some minority blood in your veins.

I will just lie and say that I do. Open borders is making it a reality anyways.

[jkr]

So let me get this straight... We are out 200 grand as a nation and there's one less a blood sucking lawyer on the planet to make the system stronger

and you're mad

?

maybe we can check our priorities here


PS when I first typed in blood sucking lawyer it came back with the word King when I corrected it re as d "what's a" in front of it...

that algorithms are strong with this 1

[angelatc]

Does that mean i can take out a bunch of student loans and blow the money and then file bankruptcy??

You can join the military and get school for free, chicken hawk. WHich begs the question - why didn't the government pick up the tab? My son knows 2 people who graduated then joined specifically to get their debt paid off.

[angelatc]

LOL. My debt is dischargeable? Hold my beer. :D

Might have to change your last name first.

[angelatc]

Debtor has made good faith efforts to repay their student loans

They mention that being one of the 3 prongs. He didn't make a good faith effort to pay back his loans. FFS, he has a law degree. Just this emotionally delicate little flower he didn't want to practice law doesn't mean the taxpayers should get hosed.


A crisis of conscious? "“When I was looking at hiring a lawyer to do it for me, I was getting quotes of around $40,000 because the lawyers see it as this really hard, arduous process,” he explained. “Maybe with this myth shattered, they'll lower what they charge. " Like I said, he could practice law, make a living, and simultaneously "do good" if he wanted to.

This is just another entitled liberal who doesn't want to own up to responsibility.