The current bankruptcy law only serves to further the interests of private banks. Since the current law was introduced in 2005 student loan debt has skyrocketed. The country is $1 trillion in debt because of student loans, and it isn't only the fault of borrowers. The fault also lies with the lenders who lend irresponsibly. Banks see 11 USC 523(a)(8) as the ability to lend any amount of money to anyone without risk. The banks will own your home, cars, and your entire lively hood if you are unable to repay. Banks DO NOT have to work with you by any means and in these cases they do not even need a judges order to garnish wages. Stop catering to the banking business, we can all see what happens (stock market crash, housing market crash, auto industry crash).
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