Lefkovitz & Lefkovitz

Nashville Office 615-256-8300       Cookeville Office 931-400-2218

Nashville Office 615-256-8300
Cookeville Office 931-400-2218

Serving all of Middle Tennessee’s Bankruptcy Needs

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What To Do About Your Student Loan Debt

Certain types of debt cannot normally be discharged through bankruptcy. Debts obtained by fraud, most taxes and student loans are among them. Student loan debt is almost never dischargeable in bankruptcy. A catastrophic injury or a long-term, disabling illness occurring after acquisition of student loans may qualify rare individuals through a disability discharge. The rest of the population must repay student loans until they are gone or until death, whichever comes first.

In the vast majority of cases, people with outstanding student loans will need to restructure their debts through a Chapter 13 bankruptcy. You may be able to get your debt load manageable once again in this way even despite student loans. The process will go something like this:

  • Secured loans such as a mortgage, a car loan and student loan arrearages will be prioritized for repayment.
  • Interest rates for those priority repayments may be reduced or eliminated during the repayment period.
  • Unsecured loans such as credit card bills, medical debt and personal loans will be at a lower priority.
  • At the end of the three- to five-year repayment plan, unsecured debt that still remains will normally be discharged.
  • Secured debt and nondischargeable debts will remain in place, but remaining balances should be more manageable.

Contact Us In Cookeville Or Nashville About Student Loan Debt | Our Lawyers Can Help Devise A Workable Repayment Strategy

Our Tennessee attorneys can advocate for you during your meeting with a bankruptcy trustee handling your Chapter 13 bankruptcy repayment plan, taking into account student loan debts. Contact us in Nashville at 615-256-8300 or in Cookeville at 931-400-2218. We also welcome emailed inquiries requesting free initial consultations.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

We help individuals and businesses find the right solution to their money problems.

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