In In re Jones, Jones graduated from college and then went to law school. He graduated from law school but was unable to pass the bar exam. Over the next decade he worked various jobs before going back to school again for a master's. Jones took out student loans to pay for his education, resulting in $140,000 of debt. He filed for bankruptcy and sought to have the student loans discharged for "undue hardship." The court held that the undue-hardship standard:
A) had been met because the amount of money owed was too much for a person in his fifties to be able to pay.
B) had been met because Jones demonstrated that he had made diligent efforts to find employment.
C) had not been met because for a healthy, educated, employable man, paying back the loans would not amount to undue hardship.
D) was not applicable to student loans and therefore Jones could not discharge the debt.
Correct Answer:
Verified
Q42: A creditor with an interest in real
Q42: The bankruptcy trustee is a representative of
A)
Q43: Which of the following is not a
Q44: A petition for bankruptcy that is filed
Q45: Under Article 9 of the UCC,which of
Q48: When does an automatic stay become permanent?
A)
Q49: Chapter 13 bankruptcy filings are limited to:
A)
Q50: Nora loaned money to Susan and received
Q51: Which of the following is not a
Q55: In Ransom v.FIA Card Services,Ransom filed for
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