If I have student loans, can I file bankruptcy?
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If I have student loans, can I file bankruptcy?
I have had this debt for years. Isn’t there someway that I can attack this problem and move on with my life?
Asked on April 12, 2012 under Bankruptcy Law, Florida
Answers:
Darren Delafield
Answered 12 years ago | Contributor
Find an attorney who will spend some time with you and will approach the issue with some creativity. Creative attorneys have been able to seek a discharge of student loans because the school went of of business, the debtor failed out of school, the debtor is the parent of a child with special needs, the debtor was injured on the job and is disabled, the debtor was disabled while serving in the armed forces, etc.
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Generally speaking, student loans are not dischargeable in bankruptcy anymore unless you can prove that repaying the loan creates an undue hardship on you or your family. Unde hardship is a tough think to prove. It is more than it is a long standing debt but rather that you can not provide the minimum standard of living. Good luck.
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