Can private student loans be a part of bankruptcy? 25 Answers as of June 17, 2011

I took out private student loans for college. Can I place private student loans under my bankruptcy if I file?

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Lakelaw - Loop Bankruptcy
Lakelaw - Loop Bankruptcy | David Leibowitz
Student loans won't be discharged except in extraordinary circumstances.
Answer Applies to: Illinois
Replied: 6/17/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Unfortunately this loans are not dischargeable except for some very narrow exceptions. Very few clients qualify to have them discharged.
Answer Applies to: California
Replied: 6/17/2011
California's Largest Family of Attorneys
California's Largest Family of Attorneys | Doan Law Firm
No, generally student loans (private or public) are nondischargeable in bankruptcy.
Answer Applies to: California
Replied: 6/16/2011
Benson Law Firm
Benson Law Firm | David Benson
You must include your student loans in your bankruptcy. The only question is whether they are dischargeable. But they must be included and can be paid in a Chapter 13 plan.
Answer Applies to: Ohio
Replied: 6/16/2011
Law Office of Asaph Abrams
Law Office of Asaph Abrams | Asaph Abrams
Student loans are not dischargeable absent very rare exceptions.
Answer Applies to: California
Replied: 6/16/2011
    Bankruptcy Law office of Bill Rubendall
    Bankruptcy Law office of Bill Rubendall | William M. Rubendall
    With a very limited exception of undue hardship, student loans are not discharged in bankruptcy. However, you can do a chapter 13 payment plan to structure payments over a three to five year period. At the end of the plan the balance of student loans is still due and owing.
    Answer Applies to: California
    Replied: 6/16/2011
    Rosenberg & Press
    Rosenberg & Press | Max L. Rosenberg
    A private student loan which is not federally funded can be discharged in a bankruptcy. However, before acting on such advice it is a good idea for an attorney to review the initial loan paperwork before making any serious decisions. Thanks for tuning in! -
    Answer Applies to: Connecticut
    Replied: 6/16/2011
    Saedi Law Group
    Saedi Law Group | Lorena Saedi
    Student loans are usually not dischargeable in a bankruptcy case. In terms of repaying student loans through a Chapter 13 bankruptcy you would need to consult an attorney in your state to see if that district allows repayment through the courts as some districts, like the Northern District of Georgia, does not.
    Answer Applies to: Georgia
    Replied: 6/15/2011
    Daniel Hoarfrost, Attorney at Law
    Daniel Hoarfrost, Attorney at Law | Daniel Hoarfrost
    All your debts are part of a bankruptcy. Student loans are not dischargeable.That means you continue to owe them despite the bankruptcy.
    Answer Applies to: Oregon
    Replied: 6/15/2011
    Law Offices of John J. Ferry, Jr.
    Law Offices of John J. Ferry, Jr. | John J. Ferry, Jr.
    You must list the student loans, but they will not be discharged. (Unless you can prove undue hardship.)
    Answer Applies to: Pennsylvania
    Replied: 6/15/2011
    Shmucher Law, PL
    Shmucher Law, PL | Ofer Shmucher
    No unfortunately private student loans are non-dischargeable in a bankruptcy. Congress is actively considering changing this and hopefully in the near future private student loans will become dischargeable in a bankruptcy. However there is a minor exception to this rule that allows student loans to be dischargeable in a bankruptcy if the debtor can show a hardship to the bankruptcy court. A hardship requires the following: That in your current situation, you can't maintain a minimum standard of living and repay your loans Your bad financial situation is likely to continue You made honest efforts to pay off the loans Your bankruptcy attorney would need to file an adversary action in your bankruptcy case and allege that all three elements above are met. The chance of your student loans being discharged through an adversary action is almost zero.
    Answer Applies to: Florida
    Replied: 6/15/2011
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    If you fail to list all your debts and all your assets you have committed a felony and can be sent to prison for up to five years, fined, and see your bankruptcy dismissed. (By the way do NOT make the mistake of filing pro se given the severe consequences of even a small misstep; get legal counsel). As a general rule, student loans are non-dischargeable (with a rare exception), which may affect what form of bankruptcy you should file.
    Answer Applies to: Georgia
    Replied: 6/15/2011
    Law Office of Harry L Styron
    Law Office of Harry L Styron | Harry L Styron
    I am not sure what you mean by "private student loans." If you mean loans from a private party other than a bank or the government or a college then they can be discharged in bankruptcy. If the lender was a bank, government or a college then the loans are non-dischargeable except if you can show the bankruptcy court that it would work a hardship on you and your dependents to repay them. Hardship, in this instance, means that you will be unable to support yourself and your dependents if you repay the loans.
    Answer Applies to: California
    Replied: 6/15/2011
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    If the loans are not traditional student loans then potentially they are dischargeable. I think what you may have is government backed loans. In other words they may be with a normal bank but the government has guaranteed them.
    Answer Applies to: California
    Replied: 6/15/2011
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    What do you mean "private"? The question is not necessarily the nature of the lender - student loans which are made or guaranteed by a government entity or a non-profit institution are not dischargeable. If the loan was not made by or guaranteed through a government entity or a non-profit institution, it can be dischargeable.
    Answer Applies to: California
    Replied: 6/15/2011
    Financial Relief Law Center
    Financial Relief Law Center | Mark Alonso
    Typically, student loans cannot be discharged in bankruptcy unless you meet some very stringent requirements which is very rare.
    Answer Applies to: California
    Replied: 6/15/2011
    Law Offices of Alexzander C. J. Adams, P.C.
    Law Offices of Alexzander C. J. Adams, P.C. | Alexzander Adams
    Generally no. You would have to file an adversary proceeding to establish an undue burden for the loans to be discharged. This standard is very high to prove. While there are instances where student loans are an undue burden, I would not count on it.
    Answer Applies to: Oregon
    Replied: 6/15/2011
    Mercado & Hartung, PLLC
    Mercado & Hartung, PLLC | Christopher J. Mercado
    Student loans are generally not dischargeable.
    Answer Applies to: Washington
    Replied: 6/15/2011
    Law Office of Maureen O' Malley
    Law Office of Maureen O' Malley | Maureen O'Malley
    Sorry. Student loans aren't dischargeable in most circumstances. If there is absolutely no government involvement, maybe. But it can be tricky. Do check with a lawyer in your jurisdiction.
    Answer Applies to: Virginia
    Replied: 6/15/2011
    Law Offices of Joseph A. Mannis
    Law Offices of Joseph A. Mannis | Todd Mannis
    As it stands, private student loans are not dischargeable. However, the law may be changing on this, as there is legislation pending to change that with regard to PRIVATE student loans. When that will happen is anyone's guess.
    Answer Applies to: California
    Replied: 6/15/2011
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    I'm not quite sure what you mean by "a part of" or "place...under". All assets and all debts must me listed in any bankruptcy case. Student loans are not dischargeable unless you can prove, after trial, "undue hardship" as that term is defined by the courts in your jurisdiction. This is a very difficult thing to prove and such undue hardship discharges are rarely granted. You need to consult with a bankruptcy attorney in your area for more details.
    Answer Applies to: California
    Replied: 6/15/2011
    Ursula G. Barrios Law
    Ursula G. Barrios Law | Guillermo Machado
    No, you cannot discharge student loans in bankruptcy.
    Answer Applies to: California
    Replied: 6/15/2011
    Indianapolis Bankruptcy Law Office of Eric C. Lewis
    Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
    It is nearly impossible to discharge student loans in bankruptcy. It is what is called an "adversary" process and one must show extreme financial hardship - a burden that is incredibly difficult to demonstrate.
    Answer Applies to: Indiana
    Replied: 6/15/2011
    Bankruptcy Law Office of Robert Weed
    Bankruptcy Law Office of Robert Weed | Robert Weed
    Chapter 7 bankruptcy doesn't help with even private student loans. You can thank Congressman John Boehner for that. In 2005 he was Chairman of the Education committee. Now he's Speaker of the House. He liked to pass out contributions to his friends from the student loan authorities and they all wanted to get into non-government guaranteed loans.
    Answer Applies to: Virginia
    Replied: 6/15/2011
    Symmes Law Group, PLLC
    Symmes Law Group, PLLC | Richard James Symmes
    Student loans are not dischargeable in bankruptcy unless you can show that you have some kind of medical condition that will not allow you to work again.
    Answer Applies to: Washington
    Replied: 6/15/2011
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