Q: I have a student loan that has tripled due to interest accrued
I need to find out what to do with this loan which has changed hands many times. I have paid on it sporadically due to financial issues. I am willing to negotiate a reasonable payment but have appealed to thees different lenders with no positive results.
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A: With extremely rare exceptions student loans are NOT dischargable in Bankruptcy. However, a Chapter 13 Payment plan may make them more affordable for a period of 5 years. You need to retain an experienced NY Bankruptcy attorney to discuss this matter in person and to got over your specific situation.
Jonathan David Warner agrees with this answer
A: You should consult an experienced bankruptcy attorney who can assess your financial situation and help you choose the best course.
Jonathan David Warner agrees with this answer
A:
Student loans are *rarely* dischargeable in Bankruptcy, but the payment structure can often be temporarily reduced and/or modified.
You should definitely consider consulting with an attorney if you’re going to traverse the Bankruptcy route, as you’d need to file under Chapter 13 to obtain the results you desire.
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