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, along with his month-to-month earnings after costs operates at a deficit of approximately $1,500, in line with 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 payments of varying amounts through the next 26 months.
Morris stated she had been using the Brunner that is so-called test release of pupil debt because it ended up being initially intended. Because the test is made in a 1987 choice, instances interpreting it have lay out “punitive requirements” and “retributive dicta, ” she said. Those cases that are harsh become a quasi-standard of mythic proportions, so much so that a lot of individuals (bankruptcy specialists, along with lay people) think it impractical to discharge student loans, ” she said.