Bill graduated from school with a substantial amount of student loan debt. Instead of getting a job he decides to spend his time skiing in Colorado and attempts to file for Chapter 7 bankruptcy to have a fresh start with no student loans once the skiing season ends. Which statement below is correct about Bill's plan?
A) All of his student loan debt will be erased.
B) Half of his student loan debt will be erased.
C) Under no circumstances will his student loan debt be erased.
D) His student loan debt will be erased only if he can prove undue hardship.
Correct Answer:
Verified
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