Home > Tag Archives: discharge student loans

Tag Archives: discharge student loans

Using This Information Man Discharges $130K in Federal Student Loans in Bankruptcy

an Young happy woman at the computer

I’ve been going on-and-on about a July 7th, 2015 statement put out by the U.S. Department of Education that talked about how the government has made allowances to approve the discharge of federal student loan debt through bankruptcy, in some situations; namely, under the “Undue Hardship” clause of the Federal Bankruptcy Code, under the exception rule commonly known as 11 ... Read More »

    Another Consumer Wins in Bankruptcy Court and Discharges Student Loans

    IMG_0913

    An attorney reader sent me a case about another consumer who successfully had their federal student loans discharged in bankruptcy. This is a rapidly evolving topic and certainly not ever court district offer up the same considerations when it comes to a discharge. But there are still a number of people who say discharging your student loans in bankruptcy is ... Read More »

      Bankruptcy Court Wants to Discharge Spousal Consolidation Student Loans. Educational Credit Management Corporation Says, “Not So Fast.”

      Screen Shot 2015-07-22 at 1.55.52 PM

      I have to admit I am totally perplexed by the media and popular myths that believe student loans can’t be discharged in bankruptcy. Even a lot of bankruptcy attorneys believe this wildfire myth. Thanks to some amazing readers and tipsters I’ve just received a collection of cases where the consumer managed to have their student loans eliminated in bankruptcy, right ... Read More »

        The Real Reason Student Loans Should Be Dischargeable in Bankruptcy

        Bankruptcy Road Sign

        President Obama got people thinking when he raised the possibility of discharging certain education loans in bankruptcy within the context of the executive action he signed last week — the one that’s intended to ensure unfettered access to government-sponsored relief programs and a means for registering complaints about unfair treatment. Not to be outdone, 13 U.S. Senators introduced the Fairness ... Read More »

          I Was the Biggest Jerk to Get So Buried in Student Loans

          Frustration

          “Dear Steve, I have $130,000 in private student loans from Wells Fargo, Sallie Mae, Citibank and Discover. The minimum monthly payment is $1,595. Since graduating in 2011 with a liberal arts bachelor’s degree, I’ve made monthly minimums through myriad part time jobs, usually several at once, odd jobs and temporary positions through a staffing agency–never finding full time work and ... Read More »

            What I Learned as an Attorney From Discharging Student Loans in Bankruptcy

            Fight Back - Red Button

            I asked attorney Lindsay Smith for some feedback to share with you about her experiences in representing consumers against student loan companies. 1) What did you learn from defending a recent consumer against a student loan company? I learned: a) Not to assume that all student loans are “next to impossible” to discharge in bankruptcy absent showing a hardship discharge; ... Read More »

              I’m Going to File Bankruptcy. Do I Just List My Student Loans? – Jayna

              Travelers Reflection

              “Dear Steve, I am claiming bankruptcy and have been unable to secure steady employment since graduation. How would I file my papers to request the discharge of my student loans. Some are private through Well Fargo with a co-signer and some are student loans starting in 2002. The total amount is around $60,000 Jayna” Dear Jayna, You should really work ... Read More »

                How Can I Find a Student Loan Bankruptcy Attorney? – Katina

                student loan default

                “Dear Steve, Thinking about filing bankruptcy but I keep being told it will not cover student loans How do I find a lawyer that will help me file bankruptcy that will include my student loans? Katina” Dear Katina, I understand what you basically want to do but I think you are asking the wrong question. It’s a long distance between ... Read More »

                  Big Case Proving Ability to Discharge Student Loans in Bankruptcy

                  College Tuition Expenses

                  Times are changing when it comes to being able to discharge student loans in bankruptcy. And while the road has been paved by a few who have been successful, one 2013 case decided by the U.S. Appeals Court in the Ninth Circuit seems like it gives hope to those who want to discharge their student loans through bankruptcy. The Ninth ... Read More »

                    I Am an Unemployed School Principal, Drowning in Debt and Getting Divorced. – Jennifer

                    Woman in home office with computer and paperwork frowning

                    “Dear Steve, I will soon file a joint bankruptcy with my husband and then get divorced. I owe $170K on my foreclosed house and $154K on students loans. I was a principal and my school closed in 2011. I have gone through unemployment and now live on child support ($570/month) and food stamps. After 15 year of experience, I am ... Read More »

                      Student Loan Forgiveness or Discharge Can Create a Huge Tax Bill. Watch Out!

                      Screen Shot 2012-02-02 at 12.49.11 PM

                      If you are one of the lucky few who have qualified for a discharge or cancellation of your student loan debt, you may be shocked to learn the debt may not be over with just yet. A reader brought to my attention that the forgiveness of student loan debt, even under a disability discharge, can result in the issuance of ... Read More »

                        I’m Disabled. How to I Get Rid of My Student Loans? – Michael

                        Ready to Collapse

                        “Dear Steve, Old Unsubsidized and Subsidized School loans(2000, 2001, and 2002) William Ford Direct Loans. From Victor Valley College -Victorville, CA which is a community college. I never graduated and this thing is a mess. I dropped out of school in Jan. 2003 dut to my late brother Mark who died at the age of 36. I could not function ... Read More »

                          My Brother is Mentally Ill and Has a Tremendous Amount of Student Loans. – Laura

                          Ready to Collapse

                          “Dear Steve, I have and estranged brother for 30 years. He became suicidal and started sending me emails. As a result we got him home and he was such a mess we immediately took him to a psychiatric facility where was admitted for several weeks. He came home to live with me and I realized he has psychosis. He is ... Read More »

                            Schizophrenia and Student Loans. How Can My Daughter Discharge Her Loans? – Beverly

                            Ready to Collapse

                            “Dear Steve, I have a 30 year old daughter that has Schizophrenia and she has school loans that she pays back out of her SSI check every month. She works PT and has a car but still lives with her elderly parents. Is there anything that can be done to “forgive” school loans? Schizophrenia is a terrible life long disease ... Read More »

                              I Am Afraid My Brother is Considering Suicide as the Result of His Student Loan Debt. – Alex

                              Ready to Collapse

                              “Dear Steve, I am the brother of the person in question. I love him very much and fear that he is close to suicide. My brother Paul has both clinical depression and OCD. He has tried to work since leaving school but has never been able to live entirely independently. One or another family member has always bailed him out. ... Read More »

                                Get My FREE Get Out of Debt Guy Newsletter

                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.You can unsubscribe at any time with just one click.After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

                                I promise to keep your email safe and secure.