The average student loan debt for a four-year degree is over twenty-three thousand dollars. Many people understandably want to get rid of this debt. However, student loan debt is very difficult to discharge in bankruptcy.
Generally, student loan debt is nondischargeable unless the debtor can prove he or she would suffer an “undue hardship”. Whether or not you are suffering an undue hardship is up for the court to decide, but it’s important to realize that this is a relatively high standard to show. Courts often look at whether you made a diligent effort to pay the debt, find a good paying job, and reduce your living expenses. In actual practice, almost the only way that you are going to get your student loans discharged through bankruptcy is if you are permanently disabled, with no opportunity or ability to get a job to repay your student loans.
If you are in debt and are thinking of filing bankruptcy, contact a Jacksonville Bankruptcy Attorney to discuss what debts can ben discharged and whether filing is right for you.