Student Loans and Bankruptcy | Colorado Bankruptcy Attorneys
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Student loans are dischargeable in bankruptcy, but it is difficult for many debtors to get bankruptcy relief with respect to student loans. There is a test that is applied when debtors are seeking the discharge of student loans in bankruptcy:1. The debtor has to establish that they’ve made a good faith effort to repay the debt.
2. They also have to establish that their situation financially doesn’t allow them to make any meaningful payment on the student loans.
3. They have to show that their financial situation is not expected to change for the better in the foreseeable future.
If there is a debtor who can satisfy all three of those requirements, it is possible to discharge part or all of a student loan in bankruptcy because repayment would be considered an undue hardship. The evaluation of the discharge-ability of student loans in a bankruptcy is obviously done on a case by case basis. If you have student loan debts, an experienced Boulder bankruptcy attorney can help you determine whether they are good candidates for discharge.The Trump Administration recently announced that it is considering making changes in the Government's defense of student loan discharge cases to enable more debtors to discharge their student loans in bankruptcy.
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At the Boulder law office of Goff & Goff, LLC, we have focused on providing our clients with high-quality legal representation since 1997. We have the experience and ability to advocate on your behalf in negotiation, litigation or at trial, and if you're considering bankruptcy we can help you through the process .Call Goff & Goff for the help you deserve today at (303) 415-9688 or get in touch by filling out the contact form on our website.