Are federal student loans dischargeable in bankruptcy?

Part I

 

Textbook

THE LEGAL ENVIRONMENT TODAY 7th edition

BUSINESS IN ITS ETHICS, REGULATORY, E-COMMERCE, AND GLOBAL SETTING

ISBN 9781111530617

Author: Roger LeRoy Miller & Frank B. Cross

 

These are the questions to be answer from the textbook.

 

Chapter 12

Questions and case problem beginning on page 378

12-2

12-4

 

Chapter 13

Questions and case problems beginning on page 398

3-1

 

Please find attached pages of the texbook about the questions / case problem. You can also google or chegg as a guide or find the book. Please list references (textbook and other refer

 

 

Part 2 – Discussion

1. Your professor has a lot of credit card debt as well as other unsecured debts. Although your professor is able to make all the required payments he has heard that he could be forced into “involuntary” bankruptcy. Is this possible even though he is making all the required minimum payments each month?

2. Are federal student loans dischargeable in bankruptcy?

 

3. What is the TILA? Why do people when they have an adjustable rate mortgage which finally adjusts which causes their payments to go up claim that “they did not know” that their respective mortgage payment would go up when it finally adjusts?