Atlanta Bankruptcy Attorney

Discharging Student Loans

You may be aware that there are some debts you cannot discharge in a bankruptcy proceeding. One of the most problematic of these non-dischargeable debts is the daunting student loan. The sad truth is that the discharging of student loans was widely abused before more strict regulations were put into place to ensure that only the truly needy could get rid of these costly education expenses. Fortunately, there are ways to discharge these debts if they place you under undue hardships. Your Atlanta bankruptcy attorney can help you recognize whether or not you qualify to discharge your student loans.

The Federal Student Aid Ombudsman has ordered that anyone who wishes to discharge their student loans must meet the following three criteria:

• Does repaying these loans prevent you from enjoying a minimum standard of living?
• Can you maintain a minimum standard of living throughout the full repayment period?
• Have you made an honest attempt at repaying the loan before filing for bankruptcy? In most cases, this means you must have worked at repaying the loans for the last five years.

Your Atlanta bankruptcy lawyer can help you prove that you meet these criteria and that you will not be able to maintain a decent standard of living if you are forced to repay these expenses.

Even if your Atlanta bankruptcy attorney is unable to get the loans discharged, he may be able to help you better negotiate a repayment plant that better fits your income and lifestyle. Our ultimate goal is to enable you to better handle your financial obligations in any way possible.

If you have been struggling to pay off your student loans, don’t let anyone tell you they can’t be discharged until you first speak with a top Atlanta bankruptcy lawyer from The Stadler Law Group.