Can I Discharge My Student Loans in Bankruptcy?
For many people, student loans make up a large part of their debt problem. Discharging student loans in bankruptcy is extremely challenging. However, this does not mean that bankruptcy cannot benefit you if you have student loan debt. An experienced attorney from Rothschild & Ausbrooks, PLLC, will be able to educate you about your options. Contact our firm today to arrange your free consultation.
Student loan debt is unsecured debt. Unsecured debt can be thought of as debt that is not attached to property. A house is secured debt — it can be foreclosed on if a person falls behind on payments. Student loans are a unique type of unsecured debt though, and are not treated the same as credit card debt or medical debt.
Discharging Student Loans
Discharging student loans in bankruptcy is difficult, but it is something that may be able to be accomplished by an experienced lawyer. If we can show that paying the student loan debt would cause an undue hardship on you, we may be able to get the debt discharged. What is an undue hardship? Essentially, that means that paying the debt would force you into a minimal standard of living. With more than three decades of experience serving people in Nashville and throughout Tennessee, we know how to eliminate student loans when possible.
How Bankruptcy Can Help
Just because a student loan cannot be discharged does not mean that bankruptcy cannot benefit you. In many cases, student loans are just one debt in a mix of debts. By eliminating the other debts, you may find that paying student loans is much easier. We will help you understand all of your options for debt relief.
Contact Us for a Free Bankruptcy Consultation
Please contact Rothschild & Ausbrooks, PLLC, today to get answers about discharging student loans in bankruptcy.
