Student loans are generally not dischargeable except in certain circumstances of hardship. In this case, you need dedicated and reliable legal representation right away. Student loans can be some people's only source of income, or they could be that one payment that is just too much bear on top of other debts. In either circumstance, personal bankruptcy filing can help alleviate stress and financial burdens.
It is important to consult with a Pennsylvania bankruptcy lawyer who is experienced with debt issues that involve significant student loans. At the Law Office of Stephen Ross, our Pottstown student loan debt attorneys can evaluate your full financial situation and help you make informed decisions to pursue the debt relief option that aligns with your best interests.
Our top priority is to protect your assets, your rights and your future. Our guidance and commitment to your needs can help you achieve a fresh financial start.
Student Loan Discharge and Deferment
Certain circumstances of hardship may allow for student loan debt discharge or debt settlement. For either result, we would need to file a motion or an adversarial complaint during a bankruptcy proceeding for a court determination of your ability to discharge the loan(s). If we can prove that a medical condition, incapacitation or other hardship prevents or impedes your ability to work, we may be able to discharge your student loan debt completely through bankruptcy.
Chapter 7 or Chapter 13 bankruptcy filing will also allow you to defer student loans during the bankruptcy process. In Chapter 7, this will allow you to discharge unsecured debts and liquidate other assets to free up funds that could be used to pay off student loan debt. In Chapter 13, you will be able to reorganize your finances and discharge unsecured debts during the bankruptcy process. We will help you negotiate a manageable repayment plan to pay back student loans within an all-encompassing repayment schedule that you can afford.
Personal Loans Are Dischargeable Debt in Bankruptcy
A common misconception regarding student loan debts involve personal loans "masked" as student loan debt. Personal loans can be used to pay for school, but they are considered dischargeable debt.
Contact Our Downingtown Consumer Bankruptcy Attorneys Today
Our attorneys are ready to discuss your concerns and provide answers. Contact our Pennsylvania debt relief law firm today to learn more about what we can do to help you overcome your legal troubles at 610-323-5300 | 800-799-1948.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
