Can student loans be written off in a bankruptcy?

Question:I am filing for bankruptcy and have student loans. Are they going to be taken care of through the bankruptcy?

No, but the bankruptcy court can work with the US Department of Education, to make the payments more workable with your budget.
Yup, but you won't be able to buy a car, a house, or use credit cards for over 7 years.

I definitely wouldn't recommend it.
Federal student loans cannot be discharged in bankruptcy. Staffords etc. There is a special rule governing them. You may be able to work out a plan with the lender if you call them. Have you gone through credit counseling? They may be able to negotiate a deal you can live with and it will reflect better on your credit report. Bankruptcy should be a last resort.
Private loans may be different though!
Bankruptcy can be a huge headache. I filed a few years ago and it was really a mess..

One site I found extremely useful while I was filing bankruptcy is this one here:

Explains the whole process. A real life saver.

This article contents is post by this website user, doesn't promise its accuracy.

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