Q: I want to know if I can file bankruptcy with only my student loans due to financial hardship?
A: Student loans, regardless of the source are generally not dischargeable in bankruptcy. There are rare circumstances when then can be discharged in bankruptcy, but it involves the filing of an expensive secondary action involving issues which can be more affordably addressed with most lenders forgiveness policy. Mere, hardship is not a sufficient reason. Generally, there are only two instances when Student Loans are forgiven (1) Death, and (2) Total and Permanent Disability – this is well beyond the definition used by SSI/SSD and usually requires a vegetative state or expected death within a year. If there is a living cosigner, generally there is no forgiveness.
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