can student loans be included in bankruptcy
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can student loans be included in bankruptcy
Asked on June 1, 2009 under Bankruptcy Law, Georgia
Answers:
J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
Unfortunately, the answers is no. this is an exception to the bankruptcy rules. If this was the case, no one would ever pay for school as they would declare banruptcy after the graduate and buy a home 7 years later. I do wish that was the case. You can however discharge credit card debts. for instance, if you paid your school loans with credit cards and then declared bankruptcy, you could get rid of the debt that way or if you used equity in your house to refi and pay off the loans.
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