On November 28, 2023, our new mailing and physical address will be 110 Glancy St., Ste. 109, Goodlettsville, TN 37072.

Filing for bankruptcy after graduation

On Behalf of | Aug 14, 2023 | Bankruptcy

Student loans are one of the primary ways graduates build up debt. College students are often also targets of credit card companies, which can lead to all kinds of debts. Many students use their credit cards to buy books, supplies, coffee, alcohol, clothes, rent and food. 

Graduates may have received grants and awards to help pay for their education, but many have student loans hanging over their heads. When it comes to repaying credit card companies after graduation along with those student loans, a lot of graduates struggle to repay their debts. 

What is the best way to pay off all of your credit card debt after college? One common solution to debt is bankruptcy. Here’s what you should know:

Should you file for Chapter 7 or Chapter 11 bankruptcy?

You might be able to apply for Chapter 7 or Chapter 13 bankruptcy. Although discharging your student loans through bankruptcy is typically not an option, you may still be able to discharge credit card debt, medical expenses, late utility bills and other unsecured debts. This can make it easier to pay your loans.

For many people, Chapter 7 bankruptcy is frequently regarded as their best choice. It’s especially beneficial for those with limited incomes.  Chapter 7 bankruptcy may wipe away most of your unsecured debts in a matter of months. If you’re just finishing college and are struggling to find a high-paying job, Chapter 7 bankruptcy might be your best option.

On the other hand, Chapter 13 bankruptcy establishes a payment plan designed to pay off your debt over time. This form of bankruptcy is often the best option for people who can afford to pay off some of their debt obligations. 

If you’re thinking about getting rid of your debt, you might want to seek legal help to be sure you’re making the best decision. 


FindLaw Network

I know you are working diligently for me and my family. It means EVERYTHING to us, and you have been so gracious in your efforts.

Thank you for that, as well as your entire staff. Remarkable.

-Kevin M.

More Testimonials