7 questions that are common figuratively speaking and Bankruptcy

7 questions that are common figuratively speaking and Bankruptcy

Should your education loan financial obligation is making a difficult situation for your and your household, perhaps you are in a position to seek out the bankruptcy courts for assistance. While discharging education loan debt in bankruptcy just isn’t effortless, some help can be provided by the courts.

Below are a few usually expected questions regarding education loan financial obligation and bankruptcy in Ohio that will help you see whether this really is a legitimate selection for you.

1. Could I apply for Chapter 13 bankruptcy when I have student education loans?

Having student education loans will not prevent you from filing bankruptcy. Nevertheless, bankruptcy shall maybe maybe not, most of the time, discharge this type of loan. Chapter 13 bankruptcy is just a good option to assist lessen the education loan re re payments, although the financial obligation is normally maybe not dischargeable.

Under Chapter 13 bankruptcy, student education loans are believed “non-priority unsecured outstanding debts,” similar to charge cards or medical bills.

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