Student Loan Debt

One of the most common questions we get is whether student loans are  dischargeable. And we have to be the bearer of bad news — no, you cannot  get rid of school loans in bankruptcy. Only in very rare cases of  “undue hardship” can student loans be forgiven.


The  average college graduate is saddled with $30,000 in student loans. You  probably also have rent or a mortgage, a car payment and other monthly  expenses. It is not uncommon for recent graduates to make ends meet by  relying on credit cards or payday loans. You can only defer your student  loan payments so long before you begin to accumulate interest and  penalties. Soon the collection agencies get involved.

You  cannot discharge federally guaranteed college loans in bankruptcy.  However, many of your other debts, including credit card balances and  traffic fines, can be eliminated or reduced through Chapter 7 or Chapter  13 personal bankruptcy.


If  you have taken on a student loan, managing your finances may be  difficult with the loan. Although college loans and student loans are  not dischargeable in bankruptcy, there may still be a solution. Call  Robert J. Adams & Associates in Chicago, IL to discuss your  financial issues with our experienced debt relief and bankruptcy  attorneys. We have offices located in Waukegan and Lake County, Illinois  and we also help clients in surrounding areas. We have experience  aiding people with bankruptcy, debt relief, foreclosures, repossessions,  paycheck garnishments, collections suits, payday loans, parking  tickets, license suspensions, income tax problems and much more.  Call today to speak to our experienced bankruptcy lawyers and find a  solution to eliminate your student loans and college loans in Chicago,  Illinois.

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