It could be very difficult, or even hopeless, to produce figuratively speaking through personal bankruptcy. Courts require that you confirm it could cause an excessive hardship about how to pay. The trouble using this is the fact Congress has not yet defined exactly what comprises an “excessive hardship,” thus making it in the hands of many courts to choose if the debtors will be or should not must pay off the student loans. The issue is, for the majority, the clear presence of student loan obligations will make it difficult to shell out for any other form of borrowing from the bank. Continue reading →