Thirty-two percent of Americans filing for Chapter 7 bankruptcy have student loan debt
Almost 1/3 of all Americans who file for bankruptcy have student loan debt. In the past 10 years, 8.7 million bankruptcy petitions were filed in the federal courts under Chapter 7, also known as liquidation bankruptcy. Of those, 2.8 million petitions—32 percent—carried student loan debt. Why is this significant? Student loan debt is almost impossible […]
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