Contrary to popular belief, there are ways you can get a Salle Mae loan written off in a bankruptcy. You have to be completely destitute, and basically prove that you'll never be able to ever pay it off.
Coincidentally, NBC News ran a story on this very thing a few days ago:
When the price of shedding student debt is hopelessness
Quote:
|
But his $89,000 in student loans were another story. Federal bankruptcy law requires those who wish to erase that debt to prove that repaying it will cause an ?undue hardship.? And one component of that test is often convincing a federal judge that there is a ?certainty of hopelessness? to their financial lives for much of the repayment period.
|