{"id":5266,"date":"2018-10-17T00:29:31","date_gmt":"2018-10-17T00:29:31","guid":{"rendered":"https:\/\/mcintirelaw.com\/?p=5266"},"modified":"2023-05-05T01:39:58","modified_gmt":"2023-05-05T01:39:58","slug":"student-loans-and-bankruptcy","status":"publish","type":"post","link":"https:\/\/mcintirelaw.com\/student-loans-and-bankruptcy\/","title":{"rendered":"Student Loans and Bankruptcy"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;--awb-margin-bottom:0px;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-1\"><h2><span class=\"ez-toc-section\" id=\"Paying_Off_Your_Student_Loans\"><\/span>Paying Off Your Student Loans.<span class=\"ez-toc-section-end\"><\/span><\/h2><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<label for=\"ez-toc-cssicon-toggle-item-662adfdfd62e4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-662adfdfd62e4\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/mcintirelaw.com\/student-loans-and-bankruptcy\/#Paying_Off_Your_Student_Loans\" title=\"Paying Off Your Student Loans.\">Paying Off Your Student Loans.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/mcintirelaw.com\/student-loans-and-bankruptcy\/#Know_the_basics_about_your_student_loan\" title=\"Know the basics about your student loan.\">Know the basics about your student loan.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/mcintirelaw.com\/student-loans-and-bankruptcy\/#Organize_your_loan_documents\" title=\"Organize your loan documents.\">Organize your loan documents.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/mcintirelaw.com\/student-loans-and-bankruptcy\/#Set_a_goal_for_yourself\" title=\"Set a goal for yourself.\">Set a goal for yourself.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/mcintirelaw.com\/student-loans-and-bankruptcy\/#Do_not_miss_your_first_payment\" title=\"Do not miss your first payment.\">Do not miss your first payment.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/mcintirelaw.com\/student-loans-and-bankruptcy\/#What_if_you_just_cant_pay_your_student_loans\" title=\"What if you just can\u2019t pay your student loans\">What if you just can\u2019t pay your student loans<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<p>Congratulations on finishing your degree! Time to start \u201cadulting\u201d and begin it by paying your bills. One of the first bills you need to settle is your student loans, but where do you start?<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Know_the_basics_about_your_student_loan\"><\/span>Know the basics about your student loan.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Make sure you know who your loan servicer is, how much you owe, where to send your payments, and when payments are due. Talk to your loan servicer so that you are aware of the details of your student loans. You may also ask your loan servicer about defaulting on your loans or the consequences of missed payments. Get answers to your questions before you fall behind, and join millions of borrowers who defaulted on their student loans.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Organize_your_loan_documents\"><\/span>Organize your loan documents.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>File all documents you get in the mail in a paper file. For electronic documents, assign a dedicated folder for it on your computer. Remember to not just file them, read every letter and notice about your loans. If you see an important document, especially those you have signed, retain copies and keep them in a safe place.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Set_a_goal_for_yourself\"><\/span>Set a goal for yourself.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Know the exact date when you expect to pay off the loan and give yourself a target ahead of that to shoot for. Always keep in mind to prioritize paying off your student loans. The sooner you get out of debt, the better your life will be.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_not_miss_your_first_payment\"><\/span>Do not miss your first payment.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Most student loans come with a six-month grace period, which means you do not have to start paying until six months after you leave school, regardless of whether you graduate, dropout or drop below half-time status. Some grace periods last up to nine months, it really depends on the type of loan. The grace period is supposed to give you time to find a job and begin earning money before you get burdened with the bills.<\/p>\n<p>A shocking number of <a class=\"linkilo_keyword_link  hyperlinks\" href=\"\/west-virginia-student-loan-debt\/\"  rel=\"dofollow\" title=\"student loan\" data-linkilo-keyword-link=\"linked\">student loan<\/a> borrowers default on their loans because they do not know when their grace periods end. Part of organizing is keeping up with due dates. Put payment due dates in your calendar and always remember that you are required to still pay on time even if you have not received any bill or notice from your lender. Setting up automatic payments to avoid late fees is also a good idea. Student loans never disappear. There\u2019s no statute of limitations, and student loans are rarely discharged even in <a href=\"https:\/\/mcintirelaw.com\/west-virginia-chapter-7-bankruptcy-attorney\/\">bankruptcy<\/a>. With few exceptions, your student loans will follow you through life, until you pay them off.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_if_you_just_cant_pay_your_student_loans\"><\/span>What if you just can\u2019t pay your student loans<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Unfortunately, the inability to <a href=\"https:\/\/mcintirelaw.com\/co-signing-private-student-loans\/\">pay back student loans<\/a> is not uncommon. If you speak with your loan servicer, they may have some options for you. You may be able to defer your payments for a while, giving you time to find a job or to earn more money. Loans can sometimes be restructured or consolidated to make them more affordable. However, if you just can\u2019t pay your student loans, you should consult with a West Virginia <a class=\"linkilo_keyword_link  hyperlinks\" href=\"\/west-virginia-bankruptcy-attorney\/\"  rel=\"dofollow\" title=\"bankruptcy attorney\" data-linkilo-keyword-link=\"linked\">bankruptcy attorney<\/a>. While most of the time, <a class=\"linkilo_keyword_link  hyperlinks\" href=\"\/west-virginia-student-loan-debt\/\"  rel=\"dofollow\" title=\"student loan\" data-linkilo-keyword-link=\"linked\">student loan<\/a> debt is not dischargeable in bankruptcy, there are circumstances where they are discharged, but you must prove extreme hardship to do it. Even if you cannot discharge the loans in bankruptcy, a WV <a class=\"linkilo_keyword_link  hyperlinks\" href=\"\/west-virginia-bankruptcy-attorney\/\"  rel=\"dofollow\" title=\"bankruptcy attorney\" data-linkilo-keyword-link=\"linked\">bankruptcy attorney<\/a> may still be able to help. You may find that having your other unsecured debt wiped out is enough to allow you to pay student loans. Sometimes, a <a class=\"linkilo_keyword_link  hyperlinks\" href=\"\/west-virginia-chapter-13-bankruptcy-lawyer\/\"  rel=\"dofollow\" title=\"chapter 13\" data-linkilo-keyword-link=\"linked\">chapter 13<\/a> bankruptcy can help by allowing you to catch up.<\/p>\n<p>The one thing you should not do is nothing. Contact West Virginia <a class=\"linkilo_keyword_link  hyperlinks\" href=\"\/west-virginia-bankruptcy-attorney\/\"  rel=\"dofollow\" title=\"bankruptcy attorney\" data-linkilo-keyword-link=\"linked\">bankruptcy attorney<\/a> Thomas McIntire for help.<\/p>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":3603,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1878,1877,1876],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/mcintirelaw.com\/wp-content\/uploads\/2018\/05\/debtsloans-1-e1525201299361.jpg?fit=300%2C199&ssl=1","_links":{"self":[{"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/posts\/5266"}],"collection":[{"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/comments?post=5266"}],"version-history":[{"count":5,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/posts\/5266\/revisions"}],"predecessor-version":[{"id":6661,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/posts\/5266\/revisions\/6661"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/media\/3603"}],"wp:attachment":[{"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/media?parent=5266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/categories?post=5266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/tags?post=5266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}