" Chapter 13 - Bankruptcy Basics."įederal Student Aid. " Credit Counseling and Debtor Education Courses." Seven years after discharge some creditors may view Chapter 13 more favorably than Chapter 7įederal Student Aid. Timeframe for possible student loan dischargeĬourt filing fees + attorney fees + assets you're required to give upĬan stay on credit report for up to 10 years Timeframe for basic bankruptcy proceeding Must have enough disposable income to make debt payments over three to five years total secured and unsecured debt must not exceed $2,750,000Ĭollection activity stops all debts are wiped out except those the court deems nondischargeable and those that are never dischargeable, such as taxes and child supportĬollection activity stops can stop foreclosure and give you more time to catch up on mortgage payments remaining balance on unsecured debts discharged after completing repayment plan on priority and secured debts Visit the American Bar Association or your state bar association's website to find a lawyer.Ĭurrent monthly income must fall below the state median or must pass a means test ![]() Consider a lawyer who might take on your case pro bono or for a low fee. If you have an attorney, the court might find that your circumstances aren’t dire enough to warrant a student loan discharge.
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