{"id":6778,"date":"2024-01-25T11:37:34","date_gmt":"2024-01-25T11:37:34","guid":{"rendered":"https:\/\/mcintirelaw.com\/?p=6778"},"modified":"2024-02-01T11:42:00","modified_gmt":"2024-02-01T11:42:00","slug":"should-i-file-bankruptcy-for-student-loans","status":"publish","type":"post","link":"https:\/\/mcintirelaw.com\/should-i-file-bankruptcy-for-student-loans\/","title":{"rendered":"Student Loan Bankruptcy in Wheeling, WV"},"content":{"rendered":"<h2><span class=\"ez-toc-section\" id=\"Getting_Student_Loan_Financial_Relief_Using_Bankruptcy\"><\/span><b>Getting Student Loan Financial Relief Using Bankruptcy\u00a0<\/b><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-6639059b61f37\" 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-6639059b61f37\"  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\/should-i-file-bankruptcy-for-student-loans\/#Getting_Student_Loan_Financial_Relief_Using_Bankruptcy\" title=\"Getting Student Loan Financial Relief Using Bankruptcy\u00a0\">Getting Student Loan Financial Relief Using Bankruptcy\u00a0<\/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\/should-i-file-bankruptcy-for-student-loans\/#Quick_Summary\" title=\"Quick Summary:\">Quick Summary:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/mcintirelaw.com\/should-i-file-bankruptcy-for-student-loans\/#Is_Student_Loan_Bankruptcy_Possible\" title=\"Is Student Loan Bankruptcy Possible?\">Is Student Loan Bankruptcy Possible?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/mcintirelaw.com\/should-i-file-bankruptcy-for-student-loans\/#What_Types_of_Bankruptcy_Can_Help_with_Student_Loans\" title=\"What Types of Bankruptcy Can Help with Student Loans?\u00a0\">What Types of Bankruptcy Can Help with Student Loans?\u00a0<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/mcintirelaw.com\/should-i-file-bankruptcy-for-student-loans\/#Chapter_7_Bankruptcy\" title=\"Chapter 7 Bankruptcy\">Chapter 7 Bankruptcy<\/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\/should-i-file-bankruptcy-for-student-loans\/#Chapter_13_Bankruptcy\" title=\"Chapter 13 Bankruptcy\">Chapter 13 Bankruptcy<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/mcintirelaw.com\/should-i-file-bankruptcy-for-student-loans\/#What_Do_I_Do_in_a_Student_Loan_Bankruptcy\" title=\"What Do I Do in a Student Loan Bankruptcy?\">What Do I Do in a Student Loan Bankruptcy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/mcintirelaw.com\/should-i-file-bankruptcy-for-student-loans\/#What_Do_I_Do_to_Prove_My_Case_Through_Undue_Hardship\" title=\"What Do I Do to Prove My Case Through Undue Hardship?\u00a0\">What Do I Do to Prove My Case Through Undue Hardship?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/mcintirelaw.com\/should-i-file-bankruptcy-for-student-loans\/#Are_There_Any_Alternatives_to_Student_Loan_Bankruptcy\" title=\"Are There Any Alternatives to Student Loan Bankruptcy?\">Are There Any Alternatives to Student Loan Bankruptcy?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/mcintirelaw.com\/should-i-file-bankruptcy-for-student-loans\/#Student_Loan_Forgiveness\" title=\"Student Loan Forgiveness\">Student Loan Forgiveness<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/mcintirelaw.com\/should-i-file-bankruptcy-for-student-loans\/#Student_Loan_Consolidation\" title=\"Student Loan Consolidation\">Student Loan Consolidation<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/mcintirelaw.com\/should-i-file-bankruptcy-for-student-loans\/#Contact_Our_Attorneys_Today_for_Student_Loan_Bankruptcy_Assistance\" title=\"Contact Our Attorneys Today for Student Loan Bankruptcy Assistance\">Contact Our Attorneys Today for Student Loan Bankruptcy Assistance<\/a><\/li><\/ul><\/nav><\/div>\n\n<p><span style=\"font-weight: 400;\">Student loans have become a pervasive financial challenge for many. It prompts individuals to <\/span><a href=\"https:\/\/mcintirelaw.com\/discharged-debt-in-common-bankruptcy-chapters\/\"><span style=\"font-weight: 400;\">seek relief through bankruptcy<\/span><\/a><span style=\"font-weight: 400;\">. Understanding the complexities of <\/span><a href=\"https:\/\/mcintirelaw.com\/student-loans-dischargeable-with-bankruptcy-wheeling\/\"><span style=\"font-weight: 400;\">student loan bankruptcy<\/span><\/a><span style=\"font-weight: 400;\"> is crucial for those looking to manage their debt and secure a more stable financial future.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Quick_Summary\"><\/span><b>Quick Summary:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Student loan bankruptcy involves including student loans in a bankruptcy filing. Discharging them is generally challenging due to their classification as &#8220;non-dischargeable&#8221; debts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Chapter 7 and Chapter 13 are the main chapters relevant to student loan bankruptcy. Chapter 7 requires the debtor to prove &#8220;undue hardship&#8221; for student loan discharge. Chapter 13 involves a structured repayment plan.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Initiating the student loan discharge process involves assessing financial situations. It also chooses between Chapter 7 and Chapter 13 and proves &#8220;undue hardship&#8221; meticulously.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Detailed financial documentation, showcasing a minimal standard of living, projecting future hardship, emphasizing good faith repayment efforts, considering dependents&#8217; impact, and documenting health issues are crucial steps in proving &#8220;undue hardship.&#8221;<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This article will discuss the problems and misconceptions about student loan bankruptcy. We will also explore its applications and alternatives.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Is_Student_Loan_Bankruptcy_Possible\"><\/span><b>Is Student Loan Bankruptcy Possible?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Student loan bankruptcy refers to<\/span><b> including student loans in a bankruptcy filing<\/b><span style=\"font-weight: 400;\">. While possible, it&#8217;s important to note that discharging student loans through bankruptcy is generally challenging. Student loans are part of &#8220;non-dischargeable&#8221; debts. That makes their elimination more complex compared to other types of debts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Individuals may still investigate avenues for alleviating their student loans. That can be possible by showcasing &#8220;undue hardship.&#8221;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Types_of_Bankruptcy_Can_Help_with_Student_Loans\"><\/span><b>What Types of Bankruptcy Can Help with Student Loans?\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Two primary chapters of the bankruptcy code can help with student loan bankruptcy. They are Chapter 7 and Chapter 13.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Chapter_7_Bankruptcy\"><\/span><b>Chapter 7 Bankruptcy<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/mcintirelaw.com\/west-virginia-chapter-7-bankruptcy\/\"><span style=\"font-weight: 400;\">Chapter 7<\/span><\/a><span style=\"font-weight: 400;\"> allows for the <\/span><b>resolution of most unsecured debts<\/b><span style=\"font-weight: 400;\">. Note that student loans are commonly deemed &#8220;non-dischargeable&#8221; under Chapter 7. That means the debtor should prove &#8220;undue hardship&#8221; with success. Proving undue hardship is a formidable challenge. That would need evidence that maintaining a minimal standard of living would be impossible while repaying the loans.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Chapter_13_Bankruptcy\"><\/span><b>Chapter 13 Bankruptcy<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/mcintirelaw.com\/qualify-for-a-chapter-13-bankruptcy\/\"><span style=\"font-weight: 400;\">Chapter 13 bankruptcy<\/span><\/a><span style=\"font-weight: 400;\"> involves creating a structured repayment plan spanning three to five years. While student loans remain non-dischargeable, the repayment plan allows for more manageable payments based on the individual&#8217;s income and expenses. That way, individuals have more leeway to address their financial situation.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Do_I_Do_in_a_Student_Loan_Bankruptcy\"><\/span><b>What Do I Do in a Student Loan Bankruptcy?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Here is a general guide on how to initiate the discharge process for your student loans:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Assessing Your Financial Situation: <\/b><span style=\"font-weight: 400;\">Evaluate<\/span> <span style=\"font-weight: 400;\">your financial circumstances first. Consider your income, expenses, assets, liabilities, and unique challenges.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Initiating the Bankruptcy Process: <\/b><span style=\"font-weight: 400;\">Should you decide that student loan bankruptcy is the right path for you, the initial step involves initiating the bankruptcy process under the relevant chapter (Chapter 7 or Chapter 13).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Proving Undue Hardship: <\/b><span style=\"font-weight: 400;\">\u00a0Proving &#8220;undue hardship&#8221; is pivotal for Chapter 7 bankruptcy.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Adversary Proceeding:<\/b><span style=\"font-weight: 400;\"> An adversary proceeding is an extra step for Chapter 7 cases to discharge student loans. This separate lawsuit focuses on the dischargeability of student loans.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"What_Do_I_Do_to_Prove_My_Case_Through_Undue_Hardship\"><\/span><b>What Do I Do to Prove My Case Through Undue Hardship?\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Specifics may vary, but here&#8217;s a general guide on how to strengthen your case:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Detailed Financial Documentation:<\/b><span style=\"font-weight: 400;\"> Provide comprehensive financial documentation covering income, expenses, assets, and liabilities for a clear snapshot of your financial standing.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Showing Minimal Standard of Living: <\/b><span style=\"font-weight: 400;\">Prove that repaying student loans would hinder maintaining a minimal standard of living by outlining essential expenses.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Projecting Future Hardship: <\/b><span style=\"font-weight: 400;\">Present evidence projecting future financial hardship during the repayment period. Consider your employment prospects, health, and potential life changes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Emphasizing Good Faith Repayment Efforts: <\/b><span style=\"font-weight: 400;\">Highlight genuine efforts to repay loans. That includes negotiation attempts, forbearance, or income-driven repayment programs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Considering Dependents&#8217; Impact: <\/b><span style=\"font-weight: 400;\">Consider and document the impact of repayment on dependents. Illustrate adverse effects on their well-being if applicable.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Documenting Health Issues: <\/b><span style=\"font-weight: 400;\">Thoroughly document health issues and associated expenses to show the financial strain caused by medical conditions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Active Job Search Efforts: <\/b><span style=\"font-weight: 400;\">Provide evidence of active job search efforts if unemployment or underemployment is a factor, including job applications and interviews.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Recording Negotiation Attempts: <\/b><span style=\"font-weight: 400;\">Document any attempts to negotiate alternative repayment plans with your student loan lenders. Demonstrating proactive efforts to find solutions strengthens your case.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Are_There_Any_Alternatives_to_Student_Loan_Bankruptcy\"><\/span><b>Are There Any Alternatives to Student Loan Bankruptcy?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Student loan forgiveness<\/b><span style=\"font-weight: 400;\"> and <\/span><b>student loan consolidation<\/b><span style=\"font-weight: 400;\"> are alternatives to student loan bankruptcy. Both offer different approaches to managing student debt.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Student_Loan_Forgiveness\"><\/span><b>Student Loan Forgiveness<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Student loan forgiveness programs offer partial or complete student loan debt forgiveness. Some examples are <\/span><b>Public Service Loan Forgiveness (PSLF) or Teacher Loan Forgiveness. <\/b><span style=\"font-weight: 400;\">But note that individuals who meet specific criteria can qualify for these.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Those who work in public service, teaching, or qualified nonprofit organizations can qualify. They should also have worked for a specified period while making qualifying payments.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Student_Loan_Consolidation\"><\/span><b>Student Loan Consolidation<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Student loan consolidation involves <\/span><b>combining many student loans into a single new loan. <\/b><span style=\"font-weight: 400;\">It can come with a lower interest rate and simplified repayment terms. Consolidation can make managing student loan debt more convenient. There will be a single monthly payment instead of many payments to different lenders.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Consolidation can also make repayment more manageable. It can extend the repayment term or offer income-driven repayment options. But note that it will not reduce the debt amount owed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Forgiveness and consolidation focus on restructuring or reducing the burden of student loans. They do so through specific programs or financial mechanisms.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These alternatives may be more favorable for borrowers who qualify and prefer to avoid the long-term consequences of bankruptcy.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Contact_Our_Attorneys_Today_for_Student_Loan_Bankruptcy_Assistance\"><\/span><b>Contact Our Attorneys Today for Student Loan Bankruptcy Assistance<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The concept of student loan bankruptcy may seem complex. Yet it is a potential avenue for those grappling with overwhelming student loan debt. The guidance of <\/span><a href=\"https:\/\/mcintirelaw.com\/\"><span style=\"font-weight: 400;\">our experienced bankruptcy attorneys<\/span><\/a><span style=\"font-weight: 400;\"> at Thomas E. McIntire &amp; Associates, L.C. can help ensure you have our support. We also have the skills to navigate this challenging journey toward potential debt relief.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Approach student loan bankruptcy confidently and clearly by following a step-by-step approach and understanding the importance of legal representation. Contact us for a free debt analysis for your student loan troubles today!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Getting Student Loan Financial Relief Using Bankruptcy\u00a0 Student loans have become a pervasive financial challenge for many. It prompts individuals to seek relief through bankruptcy. Understanding the complexities of student loan bankruptcy is crucial for those looking to manage their debt and secure a more stable financial future. Quick Summary: Student loan bankruptcy involves including [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6779,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/mcintirelaw.com\/wp-content\/uploads\/2024\/02\/Student-Loan-Bankruptcy-in-Portland-scaled.jpeg?fit=2560%2C1707&ssl=1","_links":{"self":[{"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/posts\/6778"}],"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=6778"}],"version-history":[{"count":1,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/posts\/6778\/revisions"}],"predecessor-version":[{"id":6780,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/posts\/6778\/revisions\/6780"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/media\/6779"}],"wp:attachment":[{"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/media?parent=6778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/categories?post=6778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mcintirelaw.com\/wp-json\/wp\/v2\/tags?post=6778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}