Legal Question in Bankruptcy in Connecticut

bankruptcy and student loans

I am considering filing for bankruptcy because of an inability to keep up with both credit card and student loan payments (this is due to a major career setback). What will happen to federal student loans if I declare bankruptcy?


Asked on 7/11/03, 3:55 pm

2 Answers from Attorneys
James Aspell Law Office of James F. Aspell, PC

Re: bankruptcy and student loans

I would be happy to help you with your bankruptcy petition. The total cost including filing fee is $700.00 which you may pay over time if need be. While your credit card debt can be discharged, your student loans, unfortunately, cannot be. You are stuck paying them unles you can find some other way to retire them in full and then discharge the alternate financing. Feel free to call or email to set up a time to meet if you like. The inititial consultation is free.

Jim

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Answered on 7/12/03, 12:34 am
Thomas Noonan Attorney Thomas F. Noonan L.L.C.

Re: bankruptcy and student loans

Credit Cards debt is discharable, with some time limits. However, the bankruptcy code section 523(a)(8) puts very hard restrictions on discharge of a student loan to the point that they are very difficult to discharge. Tom Noonan 12 Curtis St., Meriden, CT 6399838

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Answered on 7/14/03, 10:48 am


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