Q: I have no collection accounts on any of my credit reports but I'm considering filing for bankruptcy, is it right for me?

In just one year of attending I have a $33,249.70 Student Account balance past due at Arizona State University. This is the amount owed to ASU after all Financial Aid payments ($23,000 of student loans) were applied and is growing with a $100 per month late fee. I am going to SCC for this spring semester. My student loans are not the problem they are all still in good standing. I have NO other collection accounts on any credit reports. However I have absolutely no way to pay off this $33,249.70 owed to ASU Student Accounts. Bankruptcy is my only option to clear this singular debt so that I may obtain official transcripts or be allowed to register for future classes. I worked very hard for a 3.75 GPA and will do anything to continue my education until completion.

1 Lawyer Answer
Timothy Denison
Timothy Denison
  • Bankruptcy Lawyer
  • Louisville, KY

A: You need to consult a local bankruptcy attorney. Many student accounts are federally insured and your debt may be non-dischargeable as most student loans are. You need a lawyer to delve into this deeper and determine whether your debt is dischargeable!

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