Student Loans And Bankruptcy

If you are struggling with debt as a result of student loans, you are far from alone. According to the Brookings Institute, student loan borrowers in the U.S. owe nearly $1.5 trillion, and nearly 40 percent of borrowers will default on those loans by 2023.

As you look for ways to reduce your debts and live your best life, you may be considering filing for bankruptcy. The bad news is that it is nearly impossible to have your student loans forgiven via bankruptcy. The good news is that an experienced bankruptcy attorney may still be able to help you get your financial house in order with the help of bankruptcy.

At Sigmon & Henderson, PLLC, we find that many of the strategies we employ for people struggling with tax debt can be applied to student loan borrowers as well. Like student loan debt, many tax debts cannot be directly discharged through bankruptcy. However, bankruptcy can be used to eliminate or restructure other debts (credit cards, medical bills, etc.), resulting in a much more manageable financial situation.

Our experienced bankruptcy lawyers can look at your full financial picture and evaluate whether you could benefit from filing Chapter 7 or Chapter 13 bankruptcy. It will cost you nothing to find out whether bankruptcy is the right choice for you.

Call our Gastonia, North Carolina, office at 704-269-6374 or email us to schedule your free initial consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.