The U.S. Department of Justice announced that it will be using a new process to determine whether to oppose the discharge of federal student loans in bankruptcy.
What this means is that if you have student loan debt, you may have a better shot at eliminating it as part of a bankruptcy filing. If you have federal student loans and you are struggling to pay them, it may be time to consider bankruptcy as a solution. The process will still be somewhat complex and will require a separate “adversary proceeding” after the standard bankruptcy paperwork is filed. But with the help of a competent lawyer, you might want to consider this as an option.
Feel free to contact my office for a free consultation where we can discuss your student loans along with any other debt issues you may have.
Image credit: Mary Pahlke