Boston Bankruptcy Lawyer

Student Loan Issues in Bankruptcy

Student loans in this country have reached epidemic proportions and defaults are rising at an astonishing rate. Parents, relatives and employers often can't help pay the bills in today's economy and college graduates are moving home and putting their careers on hold. It is a dire situation and many are considering bankruptcy to alleviate their overwhelming debt. In other circumstances, students worry that their previous bankruptcy or that of their parents may prohibit them from obtaining a new student loan. If you have concerns, I am Roushi Sahagen, a Boston bankruptcy attorney at Infinity Law Group, and I may be able to help. I have extensive experience in bankruptcy law and will gladly sit down with you in a free consultation, answer your questions and discuss issues regarding student loans.

Bankruptcy Attorney in Boston: Student Loans and Bankruptcy

Unfortunately, in a bankruptcy proceeding student loans are not often part of the bills you can eliminate when discharging your debt. There is, however, one exception. If you can prove that repaying your student loans have placed an extreme burden on you or your family, the payment could be discharged. The undue hardship that you must prove includes the following elements:

• You cannot maintain a minimum standard of living and also repay your loans
• Your negative financial situation is likely to continue
• You have made honest efforts to repay your loans

This is a very difficult area to prove, however, and if you have any hope of convincing the court to include this debt in your bankruptcy, you would never attempt this alone. With experience in the financial industry that goes beyond my law degree, I am very well-positioned to also delve into issues concerning how a previous bankruptcy of yours or of your parents may affect your ability to obtain federal loans in the future. Rest assured that if retained, I will dedicate myself to considering all angles in your situation and advocating on your behalf regarding your troubling student loans.

To take the first step in your financial recovery, I urge you to contact a Boston bankruptcy lawyer and learn more about how my firm and I can help you.