can private student loans be wiped out in bankruptcy court?
March 10th, 2010
Jennifer Y asked:
I have so many student loans some of them private and my monthly payment is half my monthly income. I have applied for deferment and should be eligible for it based on the 20% rule but the private loans want me to pay for deferment. I a going to be declaring bankruptcy later on this year and wanted to ask if private student loans can be discharged in bankruptcy as they wont reduce the interest rate nor work with me to accept a lower monthly payment.
Student Loan Deferment
I have so many student loans some of them private and my monthly payment is half my monthly income. I have applied for deferment and should be eligible for it based on the 20% rule but the private loans want me to pay for deferment. I a going to be declaring bankruptcy later on this year and wanted to ask if private student loans can be discharged in bankruptcy as they wont reduce the interest rate nor work with me to accept a lower monthly payment.
Student Loan Deferment
