Is there any way to eliminate student loans?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Is there any way to eliminate student loans?
I will likely have over $100,000 in student loans when I graduate and that will absolutely be impossible for me to pay off. Is there anyway for bankruptcy to eliminate or mitigate student loan debt (mostly private loans, not federal)?
Asked on June 30, 2012 under Bankruptcy Law, Colorado
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Under federal law, no student loans (federal, state, private or public) may be discharged in a bankruptcy filing by the debtor. In a re-organization filing, a student loan may possibly be re-structured to allow for monthly payments that the debtor can now afford.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.