Can I file bankruptcy on my private student loans? 9 Answers as of April 15, 2016

I have over $60,000. I can not afford payments and are about to be charged off. I need help. I also have credit card debt and just got my wages garnished.

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Eranthe Law Firm
Eranthe Law Firm | Cate Eranthe
Student loans are not discharged in a bankruptcy unless you have a special trial and can prove that you're unable to pay even though you've been trying. You really should discuss your situation with a knowledgeable local bankruptcy attorney who can advise you. They can let you know if it's worth trying or might suggest other options.
Answer Applies to: California
Replied: 4/15/2016
A Fresh Start
A Fresh Start | Dorothy G Bunce
In bankruptcy, your private student loans are subject to the same criteria for discharge as government student loans. Assuming you are eligible to file bankruptcy, you can file, but the student loan debt is unlikely to be eliminated unless you file suit and meet the standards of the Brunner test. Not sure why you think your student loans will soon be eligible for a charge off, or why that would be important. Charge off does not mean that the debt is not legal owed like the statute of limitations having expired on collection.
Answer Applies to: Nevada
Replied: 4/15/2016
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Without seeing your paperwork I can't fully answer that, have a local lawyer look at the paperwork. If you are being garnished, go ahead and file. The law requires you to list all of debts. It does not matter that they might not be discharged.
Answer Applies to: California
Replied: 4/15/2016
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Student loans are typically not dischargeable in a bankruptcy unless you can prove an undue hardship. You should do a little research online to see what kind of hardship you need to prove. You can educate yourself in about an hour. Also Google the John D. Ford student loan repayment program, and see if there are any options here for you. Good luck!
Answer Applies to: Colorado
Replied: 4/15/2016
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
Even a private student loan is hard to discharge in bankruptcy under present law. You can only do so if you are so severely disabled that you could not make even a small monthly payment. However, if the loan is insured or guaranteed by the government, you can find several programs which make payment easier, including one in which repayment is based on your earnings. Do check with a bankruptcy lawyer in your locality, however. There may be different opinions or different practices in other federal districts than the ones in which I practice.
Answer Applies to: Wisconsin
Replied: 4/15/2016
    Philip R. Boardman, Attorney at Law
    Philip R. Boardman, Attorney at Law | Phil Boardman
    You must list all your debt in a Bankruptcy. But generally Student Loans are not discharged and remain alive after a bankruptcy. Credit card debts can be discharged though so you need to weigh whether getting rid of those types of debts could help you better deal with the student loans?
    Answer Applies to: Virginia
    Replied: 4/13/2016
    Garner Law Office
    Garner Law Office | Daniel Garner
    The definition of student loans in the Bankruptcy Code is very broad and includes private loans. So unless you can meet the "undue hardship" requirement, your loans are not likely to be discharged. However, bankruptcy will postpone collection activities on student loans while you discharge your other debt, and it will stop garnishments with very limited exceptions such as child support. It might give you enough time to work out a reasonable plan to pay off your student loans over a longer period of time.
    Answer Applies to: Oregon
    Replied: 4/13/2016
    Ronald K. Nims LLC | Ronald K. Nims
    No, student loan debt generally can't be discharged in bankruptcy.
    Answer Applies to: Ohio
    Replied: 4/13/2016
    D.J. Rausa, Attorney at Law | D.J. Rausa
    Private student loans can be discharged in bankruptcy. There is a process that has to be followed. You will need to speak with an attorney, in California, who specializes in both Student Loan Law and Bankruptcy Law.
    Answer Applies to: California
    Replied: 4/13/2016
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