More details to this question:
My son (age 35) applied and was given Federal and Private student loans to go to school. He graduated with a Bachelor in Fine Arts in 2008 but has been struggling financially ever since. About 2 years ago he became mentally unstable to the point that he had to quit his job. He is receiving therapy both psychological and psychiatric with an uncertain prognosis. He has applied for Disability but was denied and he is requesting an appeal. His private debt is about $77,153.81 and the federal debt is 24,754.27. Please advise as to what he can do.
1 ANSWER
Michael H. Fayard
Your son may be able to file bankruptcy to get rid of the student loan debt. Student loans can be discharged based on certain conditions such as disability (including mental). This is a complex area of law and you will need an attorney that is well versed in bankruptcy law guide you.
Answered on Aug 10th, 2016 at 4:26 PM