Son has student loans we are co-signors on 3. Can he file bankruptcy on the ones only he is on? Then we could pay on the other 3. (Minnesota)

Asked on June 25, 2009 under Bankruptcy Law, Minnesota

Answers:

J.V., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I would strongly urge you to contact a local attorney who specializes in bankruptcy. The reason for this is that the biggest issue you will face is that in general student loans are not discharged in bankruptcy unless you can show that your loan payment imposes an "undue hardship" on you, your family, and your dependents.

In truth it is almost impossible to show an undue hardship unless a person is physically unable to work and the chances of your obtaining any type of gainful employment in the future are non-existent.

If your son does want to discharge his loans under the undue hardship exception he must file a separate motion with the Court than appear before the judge to explain your hardship. This is not something easy to do so I strongly urge speaking with a local attorney. Review your sons overall situation and determine in this is the right avenue to pursue. because yes he can include those he is listed on alone as part of the petition but as I said they are not often discharged. Good luck


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