Fed Financial
Private student loans and bankrupcy??
I have private student loans and I am wondering if I file for bankruupcy will they be taken off the slate? What does someone have to do if they can be and what is the criteria for them to be considered?
Public Comments
- Student loans can not be discharged in bankruptcy. I'm sure your lawyer will let you list it, but it won't be discharged. The creditors will still expect you to pay and it will still be on your credit report. If you don't pay on it you will still go into default, which will could lead to wage garnishment and going after your cosigner as well. Sorry.
- No student loans can be forgiven in a bankruptcy.
