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That it impacts the case of bankruptcy procedures initiated once Oct eight, 1998, it doesn’t matter if it involve loans obtain prior to that day

Posted on: May 6th, 2022 by Julie Woodson No Comments

That it impacts the case of bankruptcy procedures initiated once Oct eight, 1998, it doesn’t matter if it involve loans obtain prior to that day

If the a debtor were able to reveal that the loan surpassed the newest restrictions put because of the IRC point 221(d)(2), they’ve been in a position to argue that the loan was ineligible to own bankruptcy proceeding coverage and so shall be subject to discharge

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then its to the brand new legal to choose if or not the borrowed funds can in fact end up being discharged. (The better Education Amendments away from 1998 repealed the new supply one to allowed on the launch of degree loans that had been in cost to possess eight age. )

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