According to a new report form the Consumer Financial Protection Bureau, American students have gathered $150 billion in private student loan debt. This is just a small piece of the total financial debt for education which in 2011, was estimated at over $1 trillion. This included public and private school debt. Students are taking on more debt now than ever to fund their education. This is not a surprise because of the financial crisis our nation is currently going through.
Student loans are not considered dischargeable debt. If a consumer were to file for Chapter 7 bankruptcy the student loan debt would remain. This is a relatively new ...
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Bankruptcy does not Discriminate by Class
According to a CBS News online article, Legends Gaming filed for Chapter 11 bankruptcy earlier in August 2012. Legends Gaming is an entertainment company with casinos in Vicksburg, Miss. and Bossier City, La. The owner intends to sell his DiamondJacks casinos to Global Gaming Solutions for $125 million, according to a spokesperson from Global Gaming. The article also stated that Global Gaming is owned by the Chickasaw Nation of Oklahoma. The tribe is on the forefront of casino domination and owns 13 casinos in Oklahoma’s Indian Casino market.
Even a casino owner who has listed between $50 million and $100 million in assets cannot stay debt ...
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