Student Loans Can Be Dischargeable! Here’s How…

Student loans are one of the main sources of financial stress for young people today. They’re talked about all the time because they’re on people’s minds, and that’s probably how one of the biggest misconceptions about bankruptcy sprouted up. So many people believe that even filing for bankruptcy cannot do anything to help you with your student loans, but that’s not the case. Student loans can be dischargeable!

Bankruptcy can be very stressful and has some unpleasant side effects like bad credit, but if you’re in a position where you feel like you need to start looking at last resorts, it might be right for you. 


How to Discharge Student Debt Through Filing Bankruptcy


To reduce or erase your student loans through bankruptcy, you need to be able to prove that you meet an “undue hardship” standard. This means that you have to prove paying your student loan debt will cause undue hardship to you or your dependents. 

How do you prove this? The myth of student loan debt being nondischargeable is so widely believed that NPR reports: 

Of the quarter million student loan debtors who file for bankruptcy each year, over 99 percent don’t even try to get their student loans discharged.

Those that do file for bankruptcy are successful about 50 percent of the time

Those numbers are pretty astounding, right?

So what does this mean for you if you have student loan debt and your financial situation is such that you are considering filing for bankruptcy? 


Step 1: Contact a Bankruptcy Attorney at Maxwell Dunn PLC


The first step is finding a bankruptcy lawyer who understands that this myth is just a myth and is willing to help you prove to a judge that you meet the undue hardship standard and your student loan debt should be discharged. Luckily, you’re already in the right place.

The team at Maxwell Dunn PLC is here to help you with all of your bankruptcy needs, including discharging student debt. We have the knowledge and experience to help you explain to the judge why your student loans are causing you and your family undue hardship. 

If you’re ready to get started or you have more questions for us, we are eager to hear from you. Contact the Maxwell Dunn PLC team today.