I have 210,000 in student loan debt, can I wipe out these student loans in bankruptcy?
Hi there! I HATE student loan debt. Student loan debt is a curse we have placed on thousands and thousands of Minnesotans. The general rule in bankruptcy is student loan debt is not dischargeable. The only exception to this rule is if you sue the student loan company in bankruptcy and get a bankruptcy judge to issue and order that repayment of the student loan debt would cause you an undue hardship. The problem is you have to invest in attorney fees to see if you can discharge the student loan debt and student loan companies like to put up a fight- so most of our guests will not do it. We can sort of regulate student loan repayments by filing a Chapter 13 Bankruptcy. For example, if the student loan companies want you to pay 900.00 per month we can force them to accept less in a Chapter 13 Bankruptcy. Hope this helps you and thanks for visiting Minnesota's ONLY Minnesota Bankruptcy Forum! Wes