QUESTION

I am currently in debt approx. $31,000 in student loans and was wondering if you can file bankruptcy on those?

Asked on Jul 20th, 2011 on Bankruptcy - Iowa
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I am currently in debt approx. $31,000 in student loans and was wondering if you can file bankruptcy on those?
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1 ANSWER

General Practice Attorney serving Ontonagon, MI at Robert Peterson, Attorney at Law
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Student loans are not normally dischargeable in bankruptcy.  They are considered priority loans and are not in the same category as consumer debts which may be discharged depending upon the chapter that the debtor utilizes for filing. Student loans may still be discharged in a Chapter 7 or 13 under some conditions.  For a full discussion of student loans and bankruptcy, you can review these situations on my webpage http://www.robertpetersonlaw.com/Firm%20Info/Practice%20Areas/Bankruptcy.aspx
Answered on Aug 31st, 2011 at 2:59 PM

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