Bankruptcy and Student Loans

Americans now have more student loan debt outstanding than credit card debt.  It’s a huge issue for consumers, and has been for some time now.  As an Asheville bankruptcy lawyer, I am hopeful that Congress will take action sooner rather than later to address the limited options students have for repayment.

Payment Options Exist in the Direct Loan Program

Payment Options Exist in the Direct Loan Program

In the meantime, I have put together my “Guide to Dealing with Student Loan Debt,” which describes the various repayment options students currently have for federal and private student loans.  If you are struggling with your student loan payments, I encourage you to read through the guide to get started on a relief strategy for your situation.

As described in the text, bankruptcy can be used as a tool to manage student loan debt.  However, bankruptcy is rarely a permanent solution for student loans because they are generally non-dischargeable in Chapter 7 and Chapter 13.  Permanent solutions do exist for federal student loans through Income-Driven Repayment plans, each of which are outlined in the guide.

I charge $150 for a student loan consultation.  If you read through the guide and still need help, don’t hesitate to arrange an appointment by calling 828-232-4949.