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Bankruptcy and Your Student Loans

Under Chapter 7 bankruptcy law most debts can be discharged. However, there are certain non-dischargeable debts that even Chapter 7 bankruptcy usually can't wipe away. These debts include student loans.

On the other hand, there are certain situations in which a bankruptcy court will allow student loans to be discharged if the debtor can show that paying off the loans will create an undue hardship on the debtor and/or his or her dependents. Bankruptcy code does not specify specific requirements for granting a hardship discharge of student loans. The debtor must apply for a hardship discharge before the debtor's other debts are discharged. This application must be made in a timely manner and the fees for the application must be paid in addition to the standard bankruptcy fees.

Standards for eligibility that bankruptcy courts typically look at when considering a hardship discharge are the debtor's income what the debtor would be able to take away as their monthly wage if they were required to pay their student loans, how long the debtor would be in debt if they had to pay the entirety of their student loans, and has the debtor made a good-faith effort to repay their student loans prior to filing for bankruptcy.

Looking for debt relief by filing for bankruptcy? Contact Bizar & Doyle, LLC today to set up a time to discuss your debt relief options with a Chicago bankruptcy lawyer from our team.

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The information on this website is for general information purposes only. Nothing on should be taken as legal advice for any individual case or situation.

Main Office: 123 W. Madison Street, Suite 205 Chicago, IL 60602
Phone Number: (312) 427-3100