Hello, can I file for bankruptcy on a private student loan?
Thank you.
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Hello, can I file for bankruptcy on a private student loan?
Thank you.
No, you cannot file bankruptcy on a specific debt. You either file on all indebtedness or none. Generally Student loans are not dischargeable, so it depends on what you mean by a "private loan".
As Scott already mentioned, when you go "bankrupt" you have to include all your debts, all the credit cards, all the loans, not just name one loan.
As a general rule student loans can not be discharged in a chapter 7 bankruptcy. But if this was a loan that was a personal loan, or from a person that you used for education, it may be.
Your best option is to go to a bankruptcy attorney and talk to them, normally the first visit is free ( but always check)
Ok. You can file bankruptcy on a "non federal" student loan- which is what you have.
Dabidosan,
I am curious where you are getting this information? And if this is true, where do I go to get it discharged? My lawyer and several other lawyers I have spoken with told me that the new bankruptcy laws that went into effect last October made it so that you cannot file bankruptcy on private student loans anymore.
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