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.
What the law states grad, 46-year-old Kevin Jared Rosenberg, represented himself. Their income that is annual is than $38,000, and his month-to-month earnings after costs operates at a deficit of approximately $1,500, based on the Jan. 7 viewpoint by Chief U.S. Bankruptcy Judge Cecelia Morris for the Southern District of the latest York.
The Albany instances Union, which noted the “stunning decision, ” plus the Wall Street Journal have protection.
Rosenberg’s student that is consolidated was at forbearance or deferment for ten years starting in April 2005. He made 10 re re payments of varying quantities throughout the next 26 months.
Morris stated she ended up being using the Brunner that is so-called test release of pupil financial obligation since it ended up being initially meant. Because the test was made in a 1987 choice, situations interpreting it have set out “punitive requirements” and “retributive dicta, ” she said. Those harsh situations “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.