How Is Student Loan Debt Handled?

Student loan debt is difficult, although not impossible, to forgive in bankruptcy. To have your student loan debt discharged, you must file Chapter 7 bankruptcy and meet several requirements. It is unlikely that your student loan debt will be forgiven. However, by filing bankruptcy and having other debts discharged or payment plans in place, it may become easier for you to pay your student loans.

At Ambrogio, Pletter & Associates, LLC, in Stratford, Connecticut, we can talk to you about your rights and options in obtaining debt relief. Our Stratford student loan debt lawyers can guide you toward the appropriate type of bankruptcy and work closely with you throughout the process. We have helped people in Stratford, Bridgeport and the surrounding areas since 1982 and can help you, too. Contact us online today or call us at 203-502-7436 to arrange a free initial consultation.

You Must File Chapter 7 Bankruptcy To Have Student Loan Debt Discharged

In addition to filing Chapter 7 bankruptcy, you must prove that paying your student loan debt will cause an undue hardship on you and your dependents. An undue hardship may be found when the individual is unemployed, has a long-term medical condition or is trapped in a cycle of poverty.

Chapter 13 Bankruptcy Can Benefit You In Many Ways

In Chapter 13 bankruptcy, you enter a court-approved debt repayment plan that takes place over a three- to five-year time frame. The debt restructuring allows you to pay unsecured debt such as credit cards, mortgage arrears and tax debt. It reduces the amount of unsecured debt that you owe, which can result in more financial resources for you to pay your student loans. We may even be able to negotiate lower student loan payments on your behalf.

While you may not be able to discharge your educational debt, bankruptcy does offer you a way to stay on top of your student loans.

Contact Our Bankruptcy Attorneys To Learn More About Student Loan Debt Repayment

We can help you find the light at the end of the tunnel, help you take control of your finances and get a fresh start. To arrange your free consultation, call us at 203-502-7436 or contact us online.

We are a debt relief agency. We help people file for relief under the Bankruptcy Code.