Legislation grad wins discharge of their pupil financial obligation in viewpoint criticizing ‘punitive criteria’
A bankruptcy judge has ruled that a 2004 graduate of Yeshiva University’s Cardozo Law School may erase more than $220,000 in student loan debt in what is being described as a“stunning” decision.
Regulations grad, 46-year-old Kevin Jared Rosenberg, represented himself. Their income that is annual is than $38,000, along with his monthly income after costs operates at a deficit of approximately $1,500, based on the Jan. 7 opinion by Chief U.S. Bankruptcy Judge Cecelia Morris regarding the Southern District of brand new York.
The Albany days Union, which noted the “stunning decision, ” plus the Wall Street Journal have protection.
Rosenberg’s consolidated education loan was at forbearance or deferment for ten years starting in April 2005. He made 10 re payments of varying quantities through the next 26 months.
Morris said she ended up being using the Brunner that is so-called test release of pupil financial obligation since it had been initially intended. Because the test was payday loans Missouri made in a 1987 decision, situations interpreting it have lay out “punitive requirements” and dicta that is“retributive” she said. Those cases that are harsh become a quasi-standard of mythic proportions, therefore much so that a lot of individuals (bankruptcy experts, along with lay individuals) think it impractical to discharge student education loans, ” she said.