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Can I Eliminate My Sallie Mae and Citibank Student Loans With Bankruptcy? – Kassandra

Written by Steve Rhode

“Dear Steve,

Situation *
I have a Sallie Student Loan for 58577.75 and a Citibank Student Loan for 30960.30. I am a 26 year old female and my income doesn’t even cover my living cost. I live at home with my parents, still. My monthly payments are 622.68 and 297.20, respectively. That’s 919.88 per month. With both loans being deferred I will be paying a lot more in the end. I am looking into possibly consolidating these loans.

My question is: Can I consolidate these loans? Should I file bankruptcy? I can’t get a straight answer from either attorney, debt counsel, or the web, that understand. Both are unsecured private loans. I can’t information to determine what would be the best route for me.


money down the drain narrow

Dear Kassandra,

On the Citibank student loans the only help will be with whatever they offer. But on the Sallie Mae loans, not all loans are private. If there is any government guarantee at all on those loans they may be eligible for government program benefits.

See The Ultimate Guide to Dealing With Student Loans You Can’t Afford fro specific details and programs.
If you have other debts then you should consider filing bankruptcy to service the student loan debts.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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