Miami Bankruptcy Attorneys, Can bankruptcy help me get rid of my student loans?
According to Miami bankruptcy attorneys, unfortunately, bankruptcy cannot help you get rid of student loans. Sorry!
While student loans can be discharged in a Chapter 7 bankruptcy, the task is nearly impossible unless you fit a very specific set of facts.
The burden is to show that the student loans present an “undue hardship” on you and that you cannot manage no matter what payment plan the student loan lender puts you on. To be successful, you essentially need to have no income, no assets, be permanently disabled, and living in your car.
Until Congress fixes this obstacle, everyone must deal the best they can with working out a payment plan with their student loan lender. Lenders have generous forbearance and income sensitive repayment plans for those experiencing financial distress. These options may not get rid of your student loan debt, but may make your monthly payments more manageable or give you the break you need to catch up.
If your real issue is all your other debt AND your student loans, then contact Miami bankruptcy attorneys to see if you can get rid of other debts may make those monthly student loan payments easier.