Student Loan debt can be crushing. While it's not dischargeable in bankruptcy, it can help make payments manageable.
While most debt can go away in a typical BK case, what about student loans and bankruptcy? Generally speaking, school debt can’t go away in a typical Chapter 7 case.
In Chapter 13 bankruptcy, you can get a five-year deferment on student loan repayment. That is, debt from student loans in bankruptcy aren’t usually paid by you directly anymore, and are part of the debt consolidation plan. However, when you finish the sixty months, the student loans are typically waiting for you. Then, you can focus on repaying them like a laser beam.
Contact us to find out if student loans and bankruptcy are a good mix for you.