Legal Question in Bankruptcy in North Carolina

I have almost $90,000 in combined student loan debt (approx. $50,000 in Fed. Student Loans / approx. $40,000 in Private Student Loans), I can not afford to pay them as I was scammed by a For Profit school in Charlotte, NC and given a worthless degree (associates embarrassingly). My Federal loans are under Income Based Repayment and I have a payment of $0/month, but my Private loans have extremely high interest rates (one of them is 14%!) and I can not afford them. They have thus defaulted and have gone into collections... would I be able to file for bankruptcy for my PRIVATE student loans?


Asked on 8/19/14, 1:30 pm

1 Answer from Attorneys
Lynn Coleman Attorney-Mediator

You can't discharge your private student loans in bankruptcy, but you may find that a Chapter 13 bankruptcy helps you manage your payments. You may have other defenses to all of the student loans. Please consult a qualified attorney with your specific fact situation.

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Answered on 8/19/14, 2:37 pm


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