Can I get rid of student loans through bankruptcy? 4 Answers as of August 02, 2010

I can't pay off my student loans and have other debt that is only getting worse and worse. Will Chapter 7 or Chapter 11 get rid of my student loans?

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Law Offices of Juan Dotson
Law Offices of Juan Dotson | Juan Dotson
Generally, no. Student loans, unlike other forms of private debt (credit cards, mortgages, etc), may only be discharged upon a showing of undue hardship. Because of the amount of work involved in presenting a case to overcome this tough standard, you should consult with an attorney about your financial situation and ability to obtain a higher paying job.
Answer Applies to: California
Replied: 8/2/2010
David Nelson
David Nelson | David Nelson
Pretty much the answer is no. You'd have to close to disabled enough to not quite get them forgiven by the US Dept of Education in order to do it in a bankruptcy.

One guy was able to get rid of his because his wife was permanently disabled.

The thing is, you file your bankruptcy, then as part of your bankruptcy, you must sue the student loan lender and prove an undue hardship on you and your dependents.

So that's how the guy above was able to win.
Answer Applies to: California
Replied: 8/2/2010
Kevin Michael Muldoon
Kevin Michael Muldoon | Kevin Muldoon
No, filing for bankruptcy won't eliminate student loan debt.
Answer Applies to: California
Replied: 8/2/2010
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