Phone: (314) 344-0800
In most cases, student loans are not forgiven during any type of bankruptcy process, including Chapter 7 bankruptcy and Chapter 13 bankruptcy. Although in the past student loans would be forgiven during bankruptcy as long as the filer had paid their student loans for seven years, that law was changed several decades years ago.
Currently, the only way to discharge your student loans during the bankruptcy process is to prove undue hardship - that is, that repaying your student loans causes you and your dependents to live below the minimal standard of living. In most cases, undue hardship can only be proven if the person filing for bankruptcy is physically unable to work and provide for their family - and will not be able to provide for their family in the future through earning a wage. In a limited number of cases, a bankruptcy court or bankruptcy judge could discharge part of your student loan debt if you can prove that paying the entire sum would cause undue hardship for you and your family.
Although your student loans will probably not go away when you file for bankruptcy, a Chapter 13 reorganization bankruptcy can help you to possibly lower your payments or to consolidate your student loans with your other debts. With a Chapter 13 bankruptcy, you can include your student loans in your repayment plan and successfully lower the balance owed over the course of your repayment. However, the balance at the end of your repayment plan will still need to be paid.
In general, if the majority of your debt consists of student loans, bankruptcy may not be the right choice for you. However, if student loan debt is part of your larger financial difficulties, declaring bankruptcy may help you reestablish your financial stability and start fresh.
Do you know how filing Chapter 7 bankruptcy can help improve your financial situation? You have probably heard many myths about bankruptcy, such as "you will lose everything." That is definitely not the case as long as you retain the services of an experienced bankruptcy attorney.
Are you worried you will lose the home or vehicle you've worked so hard for because of foreclosure or repossession? A chapter 13 may just be the answer you are looking for to help you quickly save your home or vehicle from being taken.
Millions of Americans continue to lose their homes due to foreclosure. If your family is facing foreclosure in St. Louis and risks living on the street, contact our Missouri bankruptcy law firm today. We can help!
Struggling to pay credit card bills? Not answering the phone because you're tired of hearing from bill collectors? Need options? Contact St. Louis attorney Jim Brown to learn how filing Chapter 7 bankruptcy in Missouri may be able to help. We can stop the harassing phone calls from creditors today.
Unexpected medical bills can ruin your financial future. If you’ve been suffering under the stress of medical debt, there are options for relief that can keep your family at home without losing everything. Our St. Louis bankruptcy law firm has helped numerous people get rid of debt from medical bills.
Have your hours been cut back because business has been slow or, even worse, have you lost your job? Don’t know how you’re going to pay your bills? Keep a roof over your head? We can help you get your life back. Contact a St. Louis job loss lawyer at Castle Law Office today to learn how filing bankruptcy can help you after loss of employment.
If you haven’t been able to make car payments due to financial reasons beyond your control, we can stop the Repo Man and help you keep your car. Call us today for a free consultation.
Wage garnishment can make tough times even worse. If you are being affected by garnishments and cannot provide for your family, call us today. We can show you how to get your life back on track.
A car crash can be a devastating experience for everyone involved. The injuries sustained may require a lifetime of medical treatment.
Fatigue is among the leading causes of commercial truck accidents. However, truck drivers are not the sole cause of wrecks.
80% of riders involved in a Missouri motorcycle accident are either injured or killed. Those numbers are shocking.
When you are injured in a workplace accident, one of the challenges you face is how to provide for your family.
A wrongful death suit may be filed when a person dies as the result of someone else’s negligent, reckless, or intentional act.
Substantial injuries resulting from Missouri pedestrian accidents can lead to long term physical and mental effects for that victim.
