Arizona Bankruptcy Law Attorney
Student loan debt has a tendency to linger much longer than people expect. Students take on this debt thinking that they will repay it after they graduate from college and get a good job, only to find that, in this economy, getting a good job may not be as easy as they thought.
As people struggle to find a job in the career of their choice, interest accumulates on student loan debts, increasing the financial burden. Many people consider bankruptcy as an option, especially when student loan debt is only one part of an overwhelming debt problem.
No matter how large your student loan debt may be, you may be able to find some sort of relief through bankruptcy. At the Arizona Law Group of Trezza & Associates, we can help. Contact us for a consultation with one of our attorneys.
Chapter 7 and Chapter 13 Can Help With Student Loan Debt
Student loan debt is one of the few types of unsecured debt that cannot be eliminated directly through Chapter 7 bankruptcy, except in rare cases. That does not mean that Chapter 7 is not beneficial. By using Chapter 7 to eliminate other debts, you can free up income that you can devote to paying your student loan debt.
Chapter 13 bankruptcy is also an option. In Chapter 13, student loan payments can be included in your debt payment plan. Unlike other unsecured debts though, any student loan debt that remains after the completion of the payment plan will have to be paid off.
Contact Us to Learn More About Bankruptcy and Student Loans
Every case is different, so it is important to discuss your situation with a Tucson student loan debt lawyer before making a decision. Contact us to discuss your options.
