Graduated 2006 and now have $12k more debt then original 2 Private Tuition and 4 Private student signature loans with Sallie Mae.
Last loan of which was with 1 semester to go for nearly $30k and seems after this article to be def in the category of non education necessity kinds. I am delinquent month after month and continuing to accumulate.
I am on the verge of starting a family and being married which will not make it easier but am considering bankruptcy prior in order to be relived of this astronomical amount ($70k) of private loans at an institute that was no more than $30k itself.
Do I just approach a bankruptcy lawyer and they will know all about the info needed to get some or most of these loans forgiven? Where do I start otherwise or is there any hope in sight?
Your student loan situation does not sound like one that is likely to get any relief from bankruptcy. The issues are there is no evidence you have any underlying medical issue, and there is a reasonable chance you will be able to earn enough money to service the loans.
However, you should always feel free to talk to a licensed bankruptcy attorney in your state.
You can click here to find a local bankruptcy attorney and talk to them for free about your specific situation. Get the facts and then you can make an informed and educated decision if bankruptcy is right for you.
I always reserve the right to be wrong but simply wanting to get rid of your student loans which you willfully and knowingly took out to now get married and starting a family is the worst possible reason to go for a discharge unless there are underlying mitigating factors.
If your school was not accredited then discharging the loans would be easy. Read this article.
Student Loan Resources
You can use the following student loan resources to help reorganize, discharge or forgive your student loan payments.
The Overall Guide to Dealing With Student Loan Debt
Get Help For Your Student Loan Problem
Discharge Your Student Loans in Bankruptcy
- How to Really Discharge Your Student Loans in Bankruptcy. Many Can. But Never Try.
- A Look at Sallie Mae and Other Student Loans Discharged in Bankruptcy in 2012
- Federal Student Loans Discharged in Bankruptcy. A Look at the Surprising 2012 Data and Cases.
- These Private Student Loans Can Be Easily Discharged in Bankruptcy
- All Student Loan Bankruptcy Discharge Articles
Getting Sued Over a Student Loan
Student Loan Forgiveness and Discharge Information
- The Ultimate Guide to Dealing With Student Loans You Can’t Afford
- Obama Student Loan Forgivess Program
- Military Student Loan Forgiveness and Discharge Programs
- Student Loan Forgiveness or Discharge Can Create a Huge Tax Bill. Watch Out!
- Student Loan Public Service Loan Forgiveness – New Forms and Documentation Released
- Government Student Loan Disability Discharge
Watch Out for Student Loan Assistance Programs
- Student Loan Assistance Rescue Scams On the Rise – Buyer Beware
- Student Loan Assistance Report Out. Shows Danger of Such Programs.
Student Loan Consolidation Information
- Student Loan Consolidation Payment and Interest Rate Calculator
- Student Loan Consolidation Opportunities and the Best Way to Lower Your Student Loan Payments
- Federal Direct Consolidation Loan Online Calculator
Specific Federal Student Loan Repayment Program Information
- Standard Repayment Plan
- Graduated Repayment Plan
- Extended Repayment Plan
- Income Based Repayment Plan
- Pay As You Earn Repayment Plan
- Income Contingent Repayment Plan
- Income Sensitive Repayment Plan
Maybe College Isn’t the Answer
Please post your responses and follow-up messages to me on this in the comments section below.Need to Get Rid of My Student Loans to Start a Family. - Mike by Steve Rhode