How do I file chapter 7 with my student loans.?
I graduated about 3 years ago and now all my student loans are due (165,000 worth) and I can’t pay them. I’m considering chapter 7 which I read can discharge them if I can prove undue hardship. I can not afford a lawyer. Does any one know how to go about doing this?
No I am not permenatly disable. I do know that they can be discharged in some cases.
Went through Chapter 7 in 1999. I was filing for discharge based upon my financial situation and the fact that I could not do most of the employment available to my degree as a result of my Disabled Veteran status.
Even with this “status” I was unable to have my student loans discharged!! All the guarantee agencies did was to “extend” my payment period for 20 years and “lock” me into a 7 % interest rate.
New legislation still prevents the discharge of student loans but…………….future student loan consolidations will be able to offer much better interest rates.
Look up the website for the Department of Education, regarding student loans, deferrals, foregiveness, consolidations.
Good Luck.
