Introduction and Background
USA, Banking, Insolvency & Restructuring, Litigation, Thompson Hine LLP, Bankruptcy, Student loan, Fair Credit Reporting Act 1970 (USA), Second Circuit, U.S. Court of Appeals
Millions of Americans are grappling with student debt on top of the challenges posed by the coronavirus pandemic and the economic recession. Unlike other categories of personal debt, most student loans are nondischargeable absent a showing that the debtor is experiencing an “undue hardship.” Of the over $1.6 trillion in student loan debt, over $50 billion is comprised of private loans. On August 31, 2020, in McDaniel v.
USA, Insolvency & Restructuring, Litigation, Public, Thompson Hine LLP, Coronavirus, Fifth Circuit, Tenth Circuit