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New Class Action Lawsuit Filed on Behalf of Defrauded Corinthian College Alumni

If you have watched network channels such as Fox and CBS over the past decade, particularly during the daytime, you are probably familiar with Corinthian Colleges. Although you might not recognize the name “Corinthian Colleges,” you are likely familiar with the names of individual colleges within the Corinthian system, such as Everest and WyoTech. If you have been following the news, you are also likely familiar with the class action lawsuits that have been filed on behalf of the student who took out private loans to fund their education with Corinthian Colleges, only to be unable to find jobs after graduation and who now face financial distress and bankruptcy.

A new class action lawsuit was recently filed by Public Council, a pro bono interest law firm based in Los Angeles. This lawsuit is on behalf of more than 100,000 former Corinthian College students who are still saddled with debt from the private loans they took out to attend Corinthian's programs and facing harassment from debt collection agencies.

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Bankruptcy and Student Debt: What You Should Know

Student debt is an issue that plagues hundreds of thousands of Americans. It is an issue most commonly associated with Millennials, adults who are currently in their 20s and early 30s, because of how the cost of college rose exponentially during the past decade amid a sluggish economy and stagnant wages. Young adults across the nation have delayed many of the traditional markers of adulthood, such as moving out of their parents' homes, getting married, and starting families of their own because of the levels of student debt they face.

One persistent myth about student debt is that it cannot be discharged in bankruptcy. Although this is true in many cases, it is often touted as a fact without exception. But the truth is, there are certain circumstances in which an individual can discharge his or her student debt through bankruptcy. Generally, if you can prove that you cannot live without undue hardship without discharging your student debt, you can have it discharged as part of a Chapter 7 or Chapter 13 bankruptcy plan.

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