What to do if I want to claim bankruptcy but I have student loans?

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What to do if I want to claim bankruptcy but I have student loans?

Asked on January 2, 2014 under Bankruptcy Law, Florida

Answers:

Terence Fenelon / Law Offices of Terence Fenelon

Answered 7 years ago | Contributor

In most cases, your consumer debts will be discharged but your student loans will survive and you will have to satisfy your obligations.  In some cases of undue hardship, such  as a future inablitlity to satisfy the debt due to a permanent disablity, you may be able to discharge the entire debt.  A temporary unemployed status or disability will not qualify.

If on doubt, consult with an experienced bankruptcy attorney in your jurisdiction as the interpretation of the statutes varies amongst the states.


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