Question: The Bankruptcy Code section 523(a)(8)(B) makes it difficult for student loans to be discharged in bankruptcy.This section provides that during the first 5 years after

The Bankruptcy Code section 523(a)(8)(B) makes it difficult for student loans to be discharged in bankruptcy.This section provides that during the first 5 years after a student loan becomes due and payable, it is not dischargeable unless payment would cause an undue hardship on the debtor.

Should the code be modified?If so, what changes do you suggest?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Law Questions!

Say if the statements are true or false 1 . When a life insurance claim is made, the burden of proof for payment of the policy's proceeds is on the party seeking the proceeds. 2 . If goods that have...

1. Was VAAF contractually obligated to pay Chad for refraining from smoking? 2. Was there consideration to support its promise to pay $500? 3. Are there other facts you need to know to make that...

What is the Relationship between the parties in the case? 2. What are the Rules governing the relationship? 3. What Rights do the rules create for the parties? 4. What Risks do the rules create for...

Executive Memorandum (EM) Guidelines Prepare an executive summary of the papers that is only one page long.The assignment should be typed in Word, font size 11 double spaced, with minimum margins of...

Participate in this week's discussion regarding a Bankruptcy Law scenario that many of you make have heard about. Post at least 4 quality comments, and post your first comment by Wednesday of the...

With the help of the case State Fair of Virginia, answer the following questions: What caused State Fair of Virginia to be in its current precarious financial condition? Who are the parties impacted...

PLEASE USE THE PHOTOS I SEND YOU AND NOT ANYWHERE ELSE ILL LEAVE U A GOOD COMMENT AND A THUMBS UP. THE FIRST THREE PHOTOS ARE FOR NUMBER 1 AND THE REST ARE FOR NUMBER 2 FOR NUMBER 1 THE QUESTIONS ARE...

Question: 1. a. Petitioner argued that she should be able to use a post-discharge event (the auto accident) as a basis for establishing that she could not maintain a minimal standard of living, and...

Chapter 7:7.2 #2 (p. 168) Chapter 8:8.2 #3 (p. 205) Chapter 9:9.2 #1 (p. 225) a., b., and c. (for c., only answer the adjustable rate mortgage part Chapter 7 from Personal Finance was adapted by The...

You have to come up with appropriate financing sources based on our understanding of stage 7 of this course. Also, as discussed in stage 8 , please identify the most suitable tools of marketing that...

Four identical metal plates are located in air at equal distances d from one another. The area of each plate is equal to S. Find the capacitance of the system between points A and B if the plates are...

1, 2 Using the legend provided, classify each of the following citations as to publisher: Legend RIA Research Institute of America CCH Commerce Clearing House W West U.S. U.S. Government O ...

Flour is Karens most important ingredient. She would like to minimize stock outs while keeping costs low. Use the data below to develop a continuous review inventory ordering system for the flour,...

2. As your starting point, take a situation at your workplace that often recurs, and answer the following questions: (a) Which elements are included? (b) How are the elements related to each other?...

A greater tendency to create winwin situations.

Improving creative problem-solving ability.