Struggling With Student Loan Debt? There Are Options Available
Student loan debt is a significant burden for many college graduates in Tennessee. While student loans are not dischargeable except in rare cases,
bankruptcy may at least give you time and breathing room to get your finances in order.
I’m Memphis student loan debt attorney Ben Sissman. For more than 30 years, I have helped individuals and families deal with debt problems. I offer a free initial consultation to discuss your situation and answer your questions.
Deferring Student Loans Through Bankruptcy
Student loan debt can be discharged in Chapter 7 bankruptcy only in cases of extreme hardship. Unfortunately, few people meet the requirements for extreme hardship and as a result student loans are not discharged.
Even if you do not meet the requirement of extreme hardship, you can still be able to obtain relief by filing Chapter 13 bankruptcy. Filing Chapter 13 will:
- Allow you to place student loan arrearages in a Chapter 13 repayment plan and pay them off over a three- to five-year period
- Allow you to reduce or discharge other forms of debt such as credit card bills and payday loans. By discharging other types of debt, you may be able to afford nondischargeable debts such as student loan payments
- Stop creditor harassment
Filing Chapter 13 bankruptcy may give you the time and breathing room you need to manage student debt.
Free Initial Consultation | Student Loan Debt Relief Lawyer Serving Bartlett and Millington
The law office of Ben Sissman is a debt relief agency that helps people file for bankruptcy relief under the Bankruptcy Code.