Mary borrowed $50,000 in student loans to become a doctor.Her parents cosigned the loans.Now,the loans have become due,and Mary wants to discharge them in bankruptcy.Which of the following statements best describes Mary's possible recourse?
A) Student loans cannot be discharged unless Mary proves "undue hardship."
B) Student loans cannot be discharged within 5 years unless Mary proves "undue hardship."
C) Even though Mary must wait to discharge her debt,her parents can discharge their obligation immediately.
Correct Answer:
Verified
Q78: If you are a creditor,your best protection
Q79: Chapter 13 of the bankruptcy law gives
Q80: Which of the following is true about
Q81: What is the purpose of allowing lawyers
Q82: Mary is considering filing bankruptcy because she
Q84: Which of the following is the correct
Q85: Mike has a retail jewelry business that
Q86: Matt is planning to file for bankruptcy.He
Q87: Why would an individual debtor use a
Q88: Many critics have argued that it has
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents