Pensacola Debt Lawyer Highlights Recent Student Loan Debt Ruling

PENSACOLA, Fla.- A recent ruling out of New York could change the way student loan debt is handled in bankruptcy cases across the country. Lewis and Jurnovoy, a local Pensacola debt lawyer, is highlighting the ruling and the effect it could have on student loan debt moving forward. The case was brought before the court by Kevin Rosenberg, who managed to get his student debt of over $221,000.00 included in his bankruptcy case.

Rosenberg, a recent law school graduate, argued that he satisfied the “Brunner test”, a three-part standard used to dismiss student loans in bankruptcy cases. The court ruled Rosenberg’s burden of debt was larger than he would ever be able to pay. Including his student loan payments, Rosenberg would have a negative income of $1,500 monthly.

The three-part standards used in this case are, not being able to maintain the minimal living standard due to loan payments, if the payments will stay like that for the majority of the loan period and proven evidence showing that the debtor has made good-faith effort to repay the loan. The court concluding that Rosenberg’s debt meets each part and therefore satisfied the Brunner test is a huge change in the world of bankruptcy.

For questions about bankruptcy and student debt, contact Lewis and Jurnovoy, a Pensacola bankruptcy law firm. The knowledgeable and friendly staff are happy to assist you with any questions about bankruptcy you may have. They are proud to serve the Pensacola community and assist those struggling with financial problems. Give them a call at 850-432-9110 for more information or visit them online at https://lewisandjurnovoy.com/.