Currently, student loans are easy to get and nearly impossible to get rid of. Most universities and colleges provide ample student assistance packages, without any concern to whether the borrower will be able to pay back these student loans after graduation. This only encourages students to take out student loans that they will never be able to pay back, and colleges and universities to increase tuition far faster than inflation.
Because of this, far too many people go into default with student loans, unfortunately. Whether a borrower cannot find employment after graduation, or leaves school before graduation, there are few options available if he or she cannot pay back his or her loans. As a general rule, student loans are difficult to discharge in Chapter 7 or Chapter 13 Bankruptcy. In order to discharge student loans in Chapter 7 or Chapter 13 Bankruptcy, a borrower must prove that he or she cannot pay his or her student loans while in Chapter 7 or Chapter 13 Bankruptcy, and that he or she will never be able to make any payments on student loans after the end of her Chapter 7 or Chapter 13 Bankruptcy.
However, there are some options available in Bankruptcy. Our attorneys have had some clients that were able to discharge student loans in full in Chapter 7 and Chapter 13 Bankruptcy. Contact Croke & Croke, S.C. to see if you qualify for full discharge. Croke & Croke, S.C. also can file a Chapter 13 Bankruptcy to stop collection action during bankruptcy, or to place you into a repayment plan through Chapter 13 Bankruptcy. You will remain responsible for any unpaid student loans after the end of your Chapter 13 Bankruptcy.
If you have student loan debt, let Croke & Croke, S.C. help you to get these loans under control and get your life back!
Originally poster 3/11/15