If you are thinking about declaring bankruptcy and wondering how this will
impact your college student loans, here is some basic information.
Student loans debts are treated exactly the same as
all other unsecured debts and payments owed to creditors. And your goal
was to get into college without going into debt.
Recent law changes state that an individual filing bankruptcy within ten years
(formerly two years) of last attending school will not be eligible to have their
student loans discharged at the end of the normal nine-month bankruptcy term.
The student must make a separate application to the court to have the student
loans discharged.
You may be interested in first trying to consolidate your student loan.
Student Loan Consolidation
Student Loan Consolidation is a way to consolidate your student loans
by refinancing your debt. When you refinance, you can combine all your
student loans into one single student loan consolidation program or you
can take out a private student loan.
Visit our Student Loan Consolidation information page to learn how to possibly
avoid bankruptcy and keep your credit in good standing.
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