Can I Discharge Student Loans Through Bankruptcy?

If you are considering filing for bankruptcy as a result of the student loans you have incurred, it is important that you consult with an experienced bankruptcy lawyer before taking any further action. Over the years our firm has handled countless bankruptcy cases in and around the Westchester County area. We have more than 25 years of legal experience, an in-depth understanding of the bankruptcy process and comprehensive knowledge of Debtor-Creditor laws. We realize the impact that unpaid student loans can have on a person's ability to succeed both during and following their graduation, and it is for that reason we have dedicated our practice to providing clients with the aggressive representation they deserve.

Bankruptcy is a process through which individuals, who have found themselves facing a significant amount of debt, may be able to eliminate or significantly reduce the majority of their unsecured debt. Getting student loans discharged through bankruptcy is not a simple task. Student loans, along with certain tax debt and various types of secured debt, are not generally eligible for discharge in a bankruptcy proceeding. Should you be unable to discharge your student loan, you would end up having to repay your student loans, even though you filed for bankruptcy protection.

We sympathize with the fact that it can be extremely difficult to graduate from college and immediately have to find a job that will give you the income necessary to make payments on your student loans while still having the funds available to cover housing, transportation, food and other basic living expenses. With the rising costs of education, student loans have become more and more commonplace. In fact, the national student loan debt is now more than $1 trillion dollars. There is possible relief in sight though, as legislation has been proposed which would offer protection to private and federal student borrowers, in addition to giving them their own bill of rights. Until that time, and even once any such bill is passed, having a skilled bankruptcy lawyer on your side will significantly improve your chances of obtaining a reasonable repayment plan or eliminating your student loan debt in its entirety. If you have student loan debt and you are interested in finding out if your debt can be discharged through bankruptcy, call a Westchester bankruptcy lawyer at Bronson Law Offices, P.C. today.

Additional Reading