Consumer Bankruptcy:

Student Loan Debt

There is no statute of limitations on student loans; they do not go away. They are not dischargeable if they are guaranteed by a governmental or non-governmental, profit or nonprofit organization. The exception to this is if the debtor can demonstrate that they would cause “undue hardship.” The standard for this, however, is quite difficult to attain and varies from one bankruptcy judge to the next. If you are seeking to deal with your student loan debt, it would be advisable to consult and experienced bankruptcy attorney who can explain the standard of “undue hardship” in your area. You can also discuss the possibility of deferrals and forgiveness options, which may be possible to reach with the lender or guarantor of the loans.