I agree that student loans are almost impossible to discharge in a Chapter 7 Bankruptcy. However, NOT EVERYTHING that is owed to a state school is a "student loan." Your bankruptcy attorney will need to take a close look at the entire transaction to see if this is truly a student loan.
BTW, You could file a Chapter 7 Bankruptcy to discharge your other debts. Then perhaps you could afford to pay your student loans. If you still can't afford to pay your student loans, you could file a Chapter 13 plan and pay your loans over 5 years. It's complicated, but it works.
BTW, I have a feeling that there could be a bipartisan bill to make student loans at least partially dischargeable in bankruptcy sometime in the next 2 years. I have no idea what the bill could be like.
Charles Ross Smith III Sandusky Bankruptcy Attorney
Posted over 13 years ago.
I agree that student loans are almost impossible to discharge in a Chapter 7 Bankruptcy. However, NOT EVERYTHING that is owed to a state school is a "student loan." Your bankruptcy attorney will need to take a close look at the entire transaction to see if this is truly a student loan.
BTW, You could file a Chapter 7 Bankruptcy to discharge your other debts. Then perhaps you could afford to pay your student loans. If you still can't afford to pay your student loans, you could file a Chapter 13 plan and pay your loans over 5 years. It's complicated, but it works.
BTW, I have a feeling that there could be a bipartisan bill to make student loans at least partially dischargeable in bankruptcy sometime in the next 2 years. I have no idea what the bill could be like.