Bankruptcy and Student Loans
Student loans can be a debilitating force in your life. You needed the
loans in order to go to school. You didn't expect that you would be
coming out into a recession where jobs are difficult to find. If you have
mounting debt, you need to talk with a bankruptcy attorney to learn about
At Sulaiman Law Group, LTD., we have the experience you need for exceptional
legal representation in court. Our attorneys are knowledgeable of the
law, current on new trends and provide personal service for all of our
clients. Located in Oak Brook, Illinois, we serve clients in Chicago and
the surrounding areas.
Knowledge is power. Contact a Chicago bankruptcy attorney about your mounting
debt to discuss your options. Call us at 312-313-1613.
Student Loan Debt
Unfortunately, student loan debt is considered nondischargeable debt under
the law. In rare exceptions, individuals may get rid of their debt if
they are injured and the judge rules that their student loan debt is a
proven hardship. However, even if your injury is grave, your hardship
Handling Student Loan Debt
There are other ways to deal with student loan debt.
Chapter 13 bankruptcy: As part of a Chapter 13 bankruptcy, you can reorganize your nondischargeable
debt. However, you still have to pay 100 percent of your nondischargeable
debt under this option.
Various payment options: Student loan lenders offer various loan repayment options. Some are based
on income and others extend the life of the loan.
Public service loan forgiveness: There are a number of jobs that allow for some public service loan forgiveness.
If you work in one of these jobs and pay your loan payment without deferring
for 120 consecutive payments, you may be able to have all or part of your
Extreme hardship: If you are able to prove a certain threshold of hardship you may be able
to get rid of student loan debt completely.
Contact a Bankruptcy Lawyer for More Information
Our bankruptcy lawyers in Chicago, IL handle the full range of bankruptcy
matters. If you need assistance in handling your financial situation,
contact us online or by calling us at