If you feel that you have a valid student loan bankruptcy case, we will evaluate your case for free. We have 37 years of student loan bankruptcy experience.
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Please enter your contact details and a short message below. I promise to get back to you fast! Remember, I don't represent you but I am going to provide you with free legal advice. The most important issues I plan on talking to you about are: Whether or not you you will need a lawyer. - Whether or not you need a bankruptcy case - And if you need bankruptcy, the best type of bankruptcy to help you. I will not recommend bankruptcy unless you need it. You won't have have any obligation to retain me, and I will not do a "sales job" on you.
Most lawyers who dabble in bankruptcy law look at student loan bankruptcy questions as nothing more than an annoyance. The cases are complex, and most lawyers don’t have any actual experience discharging student loans.
A student loan bankruptcy case could bring you breathing room, and sometimes even complete relief. You should have your case evaluated.
Get started. Call 800-477-3111.
All consultations are handled personally by Jeff Wishman or by Leon Bayer. The evaluation is free.
A student loan bankruptcy case can be effective to buy you time. Maybe as long a 5 years. Also, the bankruptcy case may discharge other troublesome debts that take away the money you need to pay your student loans. And occasionally, there are student loan bankruptcy cases that can completely discharge your student loans.
In most cases we can’t make your student loans go away. But we will give you a thoughtful, honest, and completely free evaluation. If we can’t get rid of them, we still have strategies that could make them less of a headache.
This explains why student loan bankruptcy cases rarely get discharged.
The U.S. bankruptcy laws were revised effective October 1, 1979. That law is called the United States Bankruptcy Code. It is referred to as Title 11, United States Code. It provided that student loan bankruptcy debts were generally dischargeable if they had been due for more than 5 years. On November 29, 1990, that law was changed from 5 years to 7 years.
Then, on October 7, 1999 the law was changed again. As it now stands, student loans are generally not dischargeable, unless you meet the “undue hardship” test.
The “undue hardship” exception for student loan bankruptcy cases
There is an exception. You can discharge them, but the requirements are so tough that almost no one can qualify. You have to prove that repayment of the loan would be an “undue hardship.” It is the undue hardship catch that makes a student loan bankruptcy discharge so hard to obtain. Here’s why that is.
“Undue hardship” does not mean what you think it means. Almost everyone feels that their loan payment is an undue hardship. But what you think doesn’t cut it. Most bankruptcy courts have established a very high standard that few people can meet.
To gain an “undue hardship” discharge, you usually need to prove you have some kind of permanent disability or impairment that keeps you trapped into earning a mere subsistence level of income and that you have a subsistence standard of living. You must also show that you can not maintain your subsistence standard of living AND afford to pay your student loans. Finally, you must be prepared to show that you have made good faith efforts to pay your loans, and that your situation is likely to continue into the foreseeable future.
Are you ready to get started? Call 800-477-3111.
All consultations are handled personally by Jeff Wishman or by Leon Bayer.
Leon and Jeff are Certified bankruptcy Specialists by the State Bar of California. They have been practicing bankruptcy law since 1980.