Why discharge student loans and other debts

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Reference no: EM13106571

Q. Bankruptcy Case

Al and Peggy Bundy are married with two teenagers and a dog. On June 15, 2010, the Bundys f petition with the bankruptcy court in Mississippi. Their debts totalled $40,00, most of which was owed to student loans obtained through the federal government. Both parties attended colleges in Tennessee but neither graduated. They sought to discharge their student loans and other debts based on undue hardship. Their total combined net income was $3100.00 and they claimed monthly expenses of $2750.00, leaving approximately $350 in surplus each month. Under federal bankruptcy laws, are the Bundy's entitled to a discharge on their student loans? Please explain thoroughly and provide references to relevant laws, case and examples to support your position. Provide more analysis of the issue.

Reference no: EM13106571

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