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Tag Archives: discharge student loans

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 »

                          Why Should I Pay My Student Loans? I Didn’t Get My Degree. – Katherine

                          Ready to Collapse

                          “Dear Steve, I make very little money have one credit card in default that is suing me for 1700 dollars. I also am about 400 behind in my sale mae loans and have 50 thousand in private student loans. How do I deal with the card that is suing me? Is it to late not to go to court? I ... Read More »

                            I Am Mentally and Physically Disabled and Can’t Pay My Student Loans or Bills. – Callie

                            Ready to Collapse

                            “Dear Steve, I am currently disabled due to both mental and physical ailments. These problems have been exacerbated by chronic unemployment (and therefore poor medical treatment) over the past six years. Now, I couldn’t even work if anyone did offer me a job. I receive state assistance because I am medically unable to work. I get $339 a month. I ... Read More »

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