Can I get rid of my student loans in bankruptcy?

//Can I get rid of my student loans in bankruptcy?

Can I get rid of my student loans in bankruptcy?

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Like many others, you may be overwhelmed by the amount of student loans that you have after college. Unfortunately, declaring bankruptcy will probably not allow you to get the relief that you need, especially if you have federal or state loans. The courts only allow bankruptcy to discharge student loans in very limited circumstances, known as “undue hardship”.

What constitutes undue hardship?

To qualify for undue hardship, you must prove the following:

  • You will be unable to meet the minimum standard of living.
  • Your financial circumstance will continue as long as you have to pay back the loan.
  • You have been trying to pay back your loans.

If these apply to you, then you may have a case; however, you must file an adversary proceeding to take care of student debt. Most people that get their students loans discharged are unemployed or have medical problems that affect their ability to work.

Contact an Attorney for Assistance

Trying to get rid of student loans through bankruptcy is a very complex process. To make sure that you put yourself in the best position for success, get representation from The Law Offices of Daniel W. Mitnick & Associates, P.C. We can investigate your case and let you know if you will be able to discharge your student loans. Our primary goal is to make sure that you resolve your financial problems and get debt relief! Call our office or submit an online form to get your free phone consultation!

By | 2015-06-03T16:57:50+00:00 February 27th, 2014|Bankruptcy|Comments Off on Can I get rid of my student loans in bankruptcy?

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