In exactly what has been referred to as a “stunning” choice, a bankruptcy judge has ruled that the 2004 graduate of Yeshiva University’s Cardozo Law School may erase significantly more than $220,000 in education loan financial obligation.
Regulations grad, 46-year-old Kevin Jared Rosenberg, represented himself. Their yearly earnings is less than $38,000, along with his cashnetusa line of credit month-to-month earnings after costs runs at a deficit of approximately $1,500, in accordance with 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 throughout the next 26 months.
Morris said she ended up being using the alleged Brunner test for release of pupil financial obligation since it had been originally meant. Considering that the test was made in a 1987 choice, cases interpreting it have lay out “punitive requirements” and “retributive dicta, ” she said. Those harsh instances “have become a quasi-standard of mythic proportions, to such an extent that many individuals (bankruptcy specialists, along with lay people) think it impractical to discharge student education loans, ” she said. Continue reading Legislation grad wins release of their pupil debt in opinion criticizing ‘punitive criteria’