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Can I Eliminate My Student Loans Through Bankruptcy?

Our clients at Robert L. Caplan, Attorney at Law, often come to our Ohio bankruptcy law firm asking questions about the types of debt they will be able to discharge through bankruptcy. One of the most common questions for undergraduate and graduate students is often, “can I get rid of my student loans if I file for bankruptcy?”

Questions About What Type Of Debt You Can Discharge?

While there are several types of debt that you can eliminate through Chapter 7 bankruptcy and Chapter 13 bankruptcy, some debt is not dischargeable, including:

  • Most student loans
  • Child support
  • Income taxes (with some exceptions)
  • Payments by government

While this may seem daunting, it is important to note that even if you cannot discharge your student loans or other backpay through the bankruptcy process, bankruptcy may help you free up the financial resources you need to pay back these types of debt.

Because Chapter 7 bankruptcy may allow for you to get rid of your credit card bills, medical expenses and mortgage loans, it can in turn free up money that you would have used to pay on that debt so you can now pay on your nondischargeable debt.

In Chapter 13 bankruptcy, you are able to pay back debt at slower rate, not on the creditors’ conditions or terms. Therefore, it is easier to pay off. This repayment plan affords you the opportunity to pay on your student loans or other debt owed to the government at a quicker rate than to your other creditors.

Since 1994, founding lawyer Robert L. Caplan has helped individuals in Columbus and throughout the surrounding area understand how Chapter 7 and Chapter 13 could help them eliminate their debt. We are ready to answer your questions and help you make the best debt relief choice for your circumstances.

Contact Our Columbus Debt Reduction Attorney Today

We invite you to contact Robert L. Caplan, Attorney at Law, at 614-252-2026 to schedule a free, initial consultation regarding your bankruptcy needs. Our law office is open weekdays between 9 a.m. and 5 p.m., evening and weekend appointments by request. We accept all major credit cards. Payment plans are also available.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.