Can I Declare Bankruptcy on Student Loans?

Filing for bankruptcy can help you reorganize your debts and regain your financial footing. When it comes to discharging debts, however, not all debts are considered equal.

In this video, you will learn about whether you can declare bankruptcy on student loans. Unfortunately, student loans are one of the most persistent types of debt. Like alimony and back-taxes, student loans generally can’t be discharged through bankruptcy. However, if you borrowed from a private institution like a bank, as opposed to the federal government, you can sometimes discharge student loans through bankruptcy. Regardless of your debt situation, the first thing you should do when considering bankruptcy is contact a bankruptcy attorney and discuss your options.