Can Your Student Loans be Discharged in Bankruptcy?

Can Your Student Loans be Discharged in Bankruptcy?

Student loan lawyer

The whole purpose behind filing for Chapter 7 bankruptcy is to get some relief and discharge from your creditors. While this is a helpful process in many areas, people always ask whether they can get the same relief from being discharged from their student loans. This is where it gets tricky.

Bankruptcy can be simple at times, but even the best student loan lawyer may not be able to help you get completely discharged from your student loans. There are several things you must prove, which isn’t as easy to convince the courts as you may think.

What You Must Prove to Have Student Loans Discharged

In order to even have the consideration of a partial student loan discharge, you must prove:

  • You can’t live a basic life because of your student loan debt
  • The hardship of having to pay back student loans will last the majority of the period of repayment
  • You’ve tried your best to pay back your student loans up to the time of filing for bankruptcy

Proving all three of these points are more difficult than you’d expect. You essentially have to prove your inability to earn a decent enough wage to be able to attempt to pay the student loans back. But with that said, the best Texas bankruptcy lawyers can still help find at least partial relief for you.

Partial Student Loan Discharge is Possible

Everyone has different circumstances with their financial and personal situation. A common misconception is student loans are impossible to get discharged. While it may be difficult, filing for Chapter 7 bankruptcy may reduce the amount you have to pay back, or you may end up with a restructured deal to make it less burdensome to pay them back.

Consider All Options Before Declaring Bankruptcy

Getting discharged from student loans through bankruptcy is a complicated process. In order to consider all of your options, it’s best to speak with a student loan lawyer prior to taking any action. Your lawyer will evaluate your situation and make a suggestion based on experience and how successful they think the case will be.

At Bryeans & Garcia, PLLC, we want to help you get relief from as much debt as we can. As difficult as it may be to get discharged from student loans, we understand every little bit can help. If you’re looking for the best Texas bankruptcy lawyers in Houston and Fort Worth, be sure to contact us for a free evaluation.