As a result of the recent rise of the prime rate, vehicle loans included in Chapter 13 bankruptcy plans can have a higher interest rate than in the past few years. Despite the resurgent economy, single mothers are still vulnerable to financial difficulties. Student loans cannot be eliminated by filing for bankruptcy, but one of […]
Student Loans
The Brunner Test Determines If Student Loans Can Be Discharged Via Bankruptcy Based Upon Undue Hardship
We received the following question from a visitor to our website: My husband and I have an insurmountable amount of student loan debt ($330,00 in private student loans, and roughly $250,000 in Federal), many of which are delinquent or in default because we have simply not been able to keep up with payments. I think […]
Can I discharge student loans?
Most bills, including student loans, will be discharged by a Chapter 13 bankruptcy (wage earner plan where you pay your bills.) In Chapter 7 bankruptcy, not all bills can be discharged. Unfortunately, a student loan is one of the few types of debts that cannot be discharged by a Chapter 7 bankruptcy. For immediate assistance, […]