Bankruptcy was taken away from Federal Student Loans in 1978 and Private Student Loans 2005. Why?
This is an issue that should be being solved now! We have lost generations from 1978 to present that
have had their lives destroyed; even though they tried to do what was right.
The Congress had to protect the Bankers... in 2005?
Did someone forget to tell Congress that our Federal and/or State Judge's would make the decision if a student loan bankruptcy case had merit to discharge the debt? Is this not why we have our court system in America?
Now for the reason why! The list below are the Congressman that changed the law. No one really knows except them. We need to ask each and everyone of them their reason for changing the law, and give them a opportunity to admit they were wrong in their decision.
I have found a true man of integrity has the courage to admit his mistakes !
Congressman Grassley and your co-sponsors........... are you men of integrity?
Sponsor: Senator Chuck Grassley
with a vote.............. of/ yeas........ 302......... nays....... 126 nv...........7 passed
The Bankruptcy Abuse Prevention and Consumer Protection Act 2005
Student loans would no longer be able to declare Bankruptcy except in a very extreme circumstance
I have done the leg work now all we have to do is continue to call, write, email, sign all petitions that would reinstate student loan bankruptcy until they get the message that changes have to be made!!!!!!!
Studentloanjustic.org also has a petition.( you can also read the history of this problem there)
Start your own petition I'll sign!!!!!!
Again Student Loan Bankruptcy is more about reorganizing of the debt, than the discharging of the debt!
Let your voices be heard by your Congressmen and President Obama
This fight is all about awareness!!........until Congress reinstates Student Loan Bankruptcy!
This is just one part of correcting this giant student loan mess that has allowed a select few to be able to make huge profits on the backs of our future.......................our children!
The student loan debt is at $1.2 Trillion and growing faster than ever before!
Tuition is increasing by 8% yearly and if nothing is done will double in 9 years!
I have no hidden agenda My only goal is for every child to have an affordable education and their opportunity to live..................................The American Dream!
I have watched the student loan debt grow from $850 Billion in 2011 to now in 2020 has exceeded $1.7 Trillion Dollars and is now growing at over $2700 a second! Solutions start with reinstatement of Student Loan Bankruptcy ! "Trickle from the Middle Up and Down Theory" A Project of Small Business and Graduates working together to reduce student loan debt! Also Create College Based Non-Profit lender The Goal 1%-3% fixed interest rate loans. YES! there are solutions to this staggering debt!
Friday, August 16, 2013
Student Loan Bankruptcy was Taken Away!................Why?
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