Home
/
Business
/
4. Which type of debt is not forgiven under Chapter 7 bankruptcy? 1. Credit card debts cannot be forgiven in Chapter 7 bankruptcy 2. Medical bills cannot be forgiven in Chapler 7 bankruptcy. 3. Student loans cannot be forgiven in Chapter 7 bankruptcy. 4. Mortgage debts cannot be forgiven in Chapter 7 bankruptcy.

Question

4. Which type of debt is not forgiven under Chapter 7 bankruptcy? 1. Credit card debts cannot be forgiven in Chapter 7 bankruptcy 2. Medical bills cannot be forgiven in Chapler 7 bankruptcy. 3. Student loans cannot be forgiven in Chapter 7 bankruptcy. 4. Mortgage debts cannot be forgiven in Chapter 7 bankruptcy.

4. Which type of debt is not forgiven under Chapter 7 bankruptcy? 1. Credit card debts cannot be forgiven in Chapter 7 bankruptcy 2. Medical bills cannot be forgiven in Chapler 7 bankruptcy. 3. Student loans cannot be forgiven in Chapter 7 bankruptcy. 4. Mortgage debts cannot be forgiven in Chapter 7 bankruptcy.

Solution

expert verifiedExpert Verified
4.0(309 Voting)
avatar
LeviVeteran · Tutor for 10 years

Answer

3. Student loans cannot be forgiven in Chapter 7 bankruptcy. While many types of unsecured debt are dischargeable in Chapter 7, student loans (both federal and private) are generally not, unless the debtor can prove "undue hardship," which is a very high legal standard to meet.<br />
Click to rate: