Can I Discharge Student Loans In Bankruptcy?

Can I Discharge Student Loans In Bankruptcy?


These student loans are killing me. Can I discharge them in bankruptcy? My name is Ron Drescher. I’m an attorney practicing bankruptcy and
creditors rights in Maryland, Delaware, Pennsylvania and Virginia, and really the short and bad
news is, it is very, very difficult to discharge student loans in bankruptcy; but, not impossible,
depending upon your situation. You’re going to have to show three things. First, you’re going to have to show that being
required to pay these student loans is going to force you below a minimum standard of living. Second, you’re going to have to show that
this condition is likely to persist for the indefinite future, and third, you’re going
to have to show that you’ve made a good faith effort to try to pay or deal with these student
loans. I have lots of clients that satisfy one or
two of these requirements. Very few that can satisfy all three; but I
do ask my clients those questions when I meet with them, because we’re not afraid of taking
on the student loan lenders to discharge them in bankruptcy, but only if you really have
a good shot at doing it; and I’ll tell you, it’s less than 1 in 20 that can really discharge
their student loans in bankruptcy; but, like I said before, it’s not impossible. My name is Ron Drescher. I’m an attorney practicing bankruptcy and
creditors rights, and if you have a question about whether you can discharge your student
loans in bankruptcy, please pick up the phone and call me, I would love to hear from you.

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