Student Loans – Hello again, Bradley Cordts, Attorney at Law from Memphis, TN here to talk to you today about student loans within a bankruptcy. If you have student loans, one of the first things we need to look at is whether or not your student loans could possibly qualify for discharge within a bankruptcy. I will tell you up front, it is very, very difficult to have student loans discharged in bankruptcy. I’ve written many essays on what I consider the new burgeoning problem of student loans and what I think will overshadow the housing debacle in terms of what’s going to happen with student loans. It is going to be a huge problem for many people as the cost of education goes up significantly. However that may be the case in the future, which may be a very difficult aspect to try to look at student loans within a bankruptcy. The first thing I would like to talk to you today is whether or not they are dischargeable. Discharge ability includes several factors and one of the first things we’ll look at is whether or not in our jurisdiction which is governed by case law under the sixth circuit in the federal system is whether or not it meets the Bruner test. Basically, they look at whether or not it creates an undue hardship to the payer and whether or not that undue hardship allows the debtor to maintain a minimum standard of living. Will these circumstances last forever and did the debtor make some sort of good faith effort to pay the student loan back. This is just touching on some of the issues we would look at; we would take a hard look at any student loans within any bankruptcy. Come see our Memphis Bankruptcy Attorney for possible bankruptcy discussion and we can look at this further. One of the first things you need to tell us when you come in is whether you have any student loans to see if you could possible qualify for any relief under the bankruptcy code.