Get Rid of Student Loan Debt?
Commonly Asked Questions About Removing Student Loan Debt
It may be possible to have your student loans wiped out through bankruptcy, but you will need to demonstrate paying for your loans would constitute an undue hardship for you. You will need to show your income is very low or your loans are from a for-profit trade school to have a good chance of having your loans discharged.
Will declaring bankruptcy discharge my student loan debt?
In most situations, it will not and you will be required to pay back your loans. When you file for bankruptcy, however, you will be granted temporary relief from collector harassment. The temporary relief from collection that comes with bankruptcy can allow you the time needed to catch up with your payments and you may be able to restructure your existing loans to make payments easier. Our
What are the requirements for discharging my student loan debt?
Many court utilize what is known as the Brunner Test in which your loans must meet three requirements to be discharged—you must be unable to maintain a minimal standard of living if forced to repay, you would likely be in persistent dire financial straits, and you have made a good faith effort to repay your loans.
What if my loans cannot be discharged?
With a Chapter 7 bankruptcy, if paying your loans is not an undue hardship, you will still have to repay them when your bankruptcy case is over. Under a Chapter 13 bankruptcy, if you are unable to have your loans discharged, a Chapter 13 bankruptcy can allow you to pay a reduced amount during your Chapter 13 plan although you will be required to pay the amount that is left after your repayment period is over.
Free Initial Consultations
There's no need to pay for a simple conversation! We provide immediate, 100% complimentary consultations to those who are interested in filing with us.
Convenient Office Locations in Southfield & Detroit
We have locations in both Southfield and Detroit for those who want to minimize their commute to visit their nearest office.
50+ Years of Combined Bankruptcy Law Experience
Our attorneys are experienced and knowledgeable in the field of bankruptcy law. Trust a seasoned bankruptcy attorney to handle your case.
Assisted 12,000+ Consumers with Their Debt
Debt affects everyone, rich or poor. We have helped thousands of clients through difficult financial times and we plan on helping thousands more.
Detroit Bankruptcy Blog
Stay updated with recent firm news and legal updates in our bankruptcy blog.Read More
Is Bankruptcy Right for Me?
Are you considering filing for bankruptcy? Discover all of your options.Learn More
Why Hire a Bankruptcy Attorney?
Navigating bankruptcy can be confusing. Learn how hiring an attorney can help!Learn More