Student loans are a blessing and a curse for graduates across the country. If you went to college and used student loans to pay for some or all of your degree, those loans were an essential part of your college career. However, after you left college, you may have found the job market less welcoming than you had hoped. With living expenses piling up, paying off your student loan debt may have become more burdensome than you expected during your college days.
Fortunately, the laws about discharging your student loans in bankruptcy have eased in the past few years. At Walker & Walker Law Offices, PLLC, our dedicated student loan discharge attorneys can help you take advantage of these new rules and get your student loans eliminated. Schedule your consultation today to learn the steps to discharge student loans in Minneapolis.
Can You Discharge Student Loans Through Bankruptcy?
In 2022, the government finalized a new law making it possible for some student loans to be discharged in bankruptcy. This is a change from the original laws that did not permit secured debts and government loans to be discharged. To qualify for a student loan discharge, you must:
- Have graduated or withdrawn from school at least 10 years ago
- Be over the age of 65, or disabled
- Have made some efforts to pay on your loans through income-driven repayment plans or actual loan payments
- Have filed for bankruptcy after November 2022 or be in the process of filing
Under the law, loans are discharged as an undue hardship. As long as you have made good-faith efforts to repay your loans, you can qualify for the discharge. Our Minneapolis attorneys are here to help you navigate the steps involved in discharging your student loans.
Why You Need Legal Assistance
The student loan discharge must be done as part of your bankruptcy or as an addition to a previously filed bankruptcy. Your attorney will show the court that requiring you to pay your remaining loan is an undue hardship and that, based on your circumstances, you cannot reasonably repay your loan.
The attorneys at Walker & Walker Law Offices, PLLC can work with your current bankruptcy attorney to get your student loans attached to your bankruptcy when it is filed. We can arrange a payment plan so you do not suffer any additional financial hardship during the bankruptcy.
Once you meet with our legal team, we file the loan discharge within a week. You will not have any loan payments while your case is pending, and you can expect a response within three to six months after filing.
As with any bankruptcy filing, you will need an attorney to assist you with gathering your documents and completing the forms before filing the bankruptcy documents. Our Minneapolis legal team can help you get started by taking steps such as collecting the specific documentation needed for your student loan discharge and showing what is necessary to prove undue hardship in your case.
Contact Our Minneapolis Attorneys to Get Started With the Steps To Discharge Student Loans
At Walker & Walker Law Offices, PLLC, we are here to help you clear your debts and start over. This includes clearing your student loan debts. Thanks to changes in the laws, you can erase your student loans if you have made a good-faith effort to pay them off. You should be able to file for bankruptcy without the pressure of your student loans. Contact our offices for a case review to learn the steps to discharge student loans in Minneapolis.
