Are private student loans made BEFORE 2005 dischargeable in a chapter 7?

Asked over 1 year ago - Los Angeles, CA

I know that the Bankruptcy Act of 2005 made even private student loans non-dischargeable. But what if the loan was made prior to 2005? Is the Act retroactive as to all student loans, whenever made? Thanks!

Attorney answers (4)

  1. Brian Crozier Whitaker

    Contributor Level 17


    Lawyers agree

    Answered . No - the 2005 Act applies whenever the loan was made.

  2. Stuart Gregory Steingraber

    Contributor Level 18


    Lawyers agree

    Answered . No change re dischargeability of student loans in general. However, in certain narrow circumstances all or a portion of a student loan may be dischargeable under Chapter 13 hardship basis. Speak to your BK attorney for details.

  3. Matthew Jerome Gilbert


    Contributor Level 3

    Answered . The Bankruptcy Act of 2005 applies to Student Loans made prior to 2005. Thus, your Private Student Loan is non-dischargeable. There is a narrow exception to the dischargeability of student loans where you are able to show that the repayment of the student loan imposes an undue hardship on you or your dependents. In order to qualify for this exception, you would need to bring a separate hearing before the bankruptcy court and convince the court of the "undue hardship". This kind of hearing would require the expertise of a well seasoned attorney.

  4. Aaron Matthew Tomczak

    Contributor Level 9


    Lawyer agrees

    Answered . No-they are generally not. You may be able to have them discharged, but this would be a separate Hearing, and the burden rest with you.


Related Topics


Bankruptcy is a legal way for people or businesses who are no longer capable of paying back their bills to clear these debts and start over.

Chapter 7 bankruptcy

Chapter 7 bankruptcy is a form of bankruptcy where your debts are canceled, but some of your assets are sold to pay off part of your debt.

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