Federal Student Loans Can Be Very Difficult To Eliminate

I am Robert E. Bardwell, Jr., Attorney at Law. Over the past 25-plus years of practicing law, I have advised countless central Ohio individuals about their debt relief options and what types of debt can be discharged through bankruptcy. One of the most common questions I hear is, "Will filing bankruptcy eliminate my student loans?"

Unfortunately, the answer to this question is nearly always no. Although federal student loans (including Stafford loans and Perkins loans) are widely available through colleges, banks and other sources, the U.S. government is very reluctant to forgive such financial obligations.

In extreme cases, you may be able to discharge such debts, but only if all three of the following apply:

  • You have made good faith efforts to pay off the loans.
  • You are now permanently disabled from working.
  • You can clearly never pay off the debt, even if you wanted to.

Even If You Can't Discharge Student Loans, Bankruptcy May Help You

Bankruptcy can still be a very helpful tool, even if it does not eliminate your school-related debts. It can allow you to discharge all your unsecured debts such as credit card bills, medical bills, payroll advance loans, car loan deficiencies and more. Getting rid of thousands of dollars of credit card debt, for instance, may make it possible for you to begin repaying your other obligations.

Free Consultation With A Bankruptcy Lawyer Serving Hilliard And Beyond

To schedule a free financial evaluation and discuss your particular financial situation with a Columbus student loan debt attorney, please call my Hilliard or Columbus office at 614-907-3665. You can also contact me online. Evening and weekend appointments are available by request.

†The firm is a debt relief agency and helps people file for bankruptcy relief under the Bankruptcy Code.