Student Loans and Bankruptcy

Get Help With Student Loan Debt From an Aiken Bankruptcy Attorney

Can I Erase My Student Loans Through Bankruptcy?

College tuition is an investment in your future, but unfortunately also a very expensive investment. Most of us have to take out sizable loans in order to pay for a college education, and most of us spend what feels like a lifetime trying to pay them back. Sometimes, partnered with other accumulated debts, student loans may become impossible to pay. Before defaulting on these loans, stop and think if you have other options. You may have heard that you cannot discharge student loans through bankruptcy. However, in some cases, this is simply untrue.

Getting your student loans erased through bankruptcy can be a complicated process. For the best possible result, work with an Aiken, SC bankruptcy lawyer. The attorneys at the Law Offices of Andrew C. Marine are experienced in all facets of bankruptcy and can help you work through all steps of the process.

Discharging Student Loans Through Bankruptcy

You may not wipe out your student loan debt via bankruptcy unless you can prove that those debts are causing you an undue hardship. Many courts determine whether or not these loans are a hardship by using something called the Brunner Test. You must meet the following criteria:

  • You made a good faith effort to repay your student loans
  • You cannot maintain a minimum standard of living for yourself or your dependents at the time of filing if you are forced to repay these loans
  • Your current financial situation is likely to persist for the foreseeable future

Some courts may not use the Brunner Test, and some courts may also use other criteria in addition to the three listed above.

There may be other defenses to discharging your student loans, such as fraud or deceptive business practices. This is why it’s crucial to speak to an experienced student loan and bankruptcy attorney for knowledgeable information and advice.

Call an Aiken, South Carolina Bankruptcy Law Firm Today

At the Law Offices of Andrew C. Marine, our two decades practicing bankruptcy law give us the experience you need for your student loan issues. Let us help you work out a solution to your problems and give you the peace of mind you deserve. Call us today at (803) 810-0859.