QUESTION
Can I file bankruptcy or discharge/settle Sallie Mar Private loans? I work full time and can not afford payments.
Asked on Sep 27th, 2014 on Bankruptcy - Pennsylvania
More details to this question:
Sallie Mae is the servicer. I make 24k a yr with no hope of a raise. I owe over 70k to Sallie Mae & am on a payment plan of $450/ mo that will jump to $700 + in March. I can't afford it and my salary will never increase. I am a full time radio producer- my bills and loans are an amt that I can't sustain on my salary. Can I dischsrge through bankruptcy or have Sallie Mae settle the debt lower? Please help
1 ANSWER
Personal Injury Attorney serving Fall River, MA
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Botelho & Associates, LLC
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I recently wrote an article on Student Loans and Bankruptcy, this should answer your question:
http://ezinearticles.com/?Can-I-Get-Student-Loans-Discharged-in-Bankruptcy?&id=8717156
I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options.
Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.
Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law 901 Eastern Ave. Unit 2 Fall River, MA 02723 Office: 888-269-0688 FAX: 877-475-8147
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Answered on Sep 29th, 2014 at 11:03 AM