Can Student Loan Be Discharged Through Bankruptcy?

In general, student loan debts are not dischargeable in bankruptcy. That means at the end of the bankruptcy process, you will most likely still be obligated to pay back these loans. However, there is a slight possibility that your student loans could be eliminated. And, a properly filed bankruptcy may still serve your needs if you have significant debt from other sources.

At Minion & Sherman, our Essex County, New Jersey, student loan and bankruptcy lawyers have more than 40 combined years of experience guiding people through the bankruptcy process. We are committed to helping you get out from under the burden of overwhelming debt. Even if we cannot get your student loans discharged, we may be able to help you create a strategy to deal with your other debts.

Understanding Bankruptcy and Student Loans

Student loans are some of the largest debt obligations people take on. As of 2012, the amount of student loan debt in the U.S. exceeds the amount of credit card debt. That has never happened before. As your lawyers, we are ready to sit down and discuss options for dealing with your overall debt. There are really two possibilities when it comes to bankruptcy and student loans:

  • You have an extreme financial hardship that would qualify you for discharge of student loan debts. The hardship does need to be extreme, such as a disability that prevents you from working.
  • If your loans are not dischargeable, we may be able to take steps to deal with credit card debt, medical bills and other obligations through Chapter 7 or Chapter 13 bankruptcy, or alternatives to bankruptcy.

We are committed to doing what is best for you, including giving you the honest and open communication you deserve. We will do our best to help you deal with student loan debt and any other debt that may be causing you difficulty.

Contact an Essex County Bankruptcy Attorney

For a free consultation to discuss student loans and bankruptcy, call 973-559-5791 or contact our law firm online.

We are a debt relief agency. We help people file for relief under the U.S. Bankruptcy Code.