Can old delinquent student loans be discharged in bankruptcy court?

Old Delinquent Student Loans Can Be Discharged in Bankruptcy Court

Many people are unaware that old delinquent student loans can be discharged in bankruptcy court. This is because student loans are generally not dischargeable in bankruptcy proceedings. However, there are certain exceptions to this rule.

One exception is if the borrower can demonstrate that repaying the loan would cause an undue hardship. This is a complex standard to meet, but it is possible. The borrower must show that they cannot maintain a minimal standard of living if they are required to repay the loan. They must also show that their financial situation is likely to remain the same in the future.

Another exception is if the borrower can show that the loan was obtained fraudulently. This could include situations where the borrower was misled about the terms of the loan or the school they were attending was not accredited.

If a borrower can successfully demonstrate one of these exceptions, they may be able to have their old delinquent student loans discharged in bankruptcy court. This can provide much-needed relief for borrowers struggling to repay their loans.

It is important to note that this process can be complex and challenging, and it is recommended that borrowers seek the assistance of an experienced bankruptcy attorney. An attorney can help borrowers understand their options and navigate the bankruptcy process.

In conclusion, old delinquent student loans can be discharged in bankruptcy court under certain circumstances. Borrowers struggling to repay their loans should consider seeking the assistance of an attorney to explore their options.

Bankruptcy Attorney Free Consultation

If you are looking for a legal advice about bankruptcy law or in need an attorney, call this law firm for free consultation. We have the Best Attorneys in Utah.

Ascent Law LLC

8833 S Redwood Road Suite C

West Jordan UT 84088

(801) 676-5506

https://www.ascentlawfirm.com

Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.

Location: Sandy, UT, USA

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