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Federal Student Loans can be discharged in bankruptcy but its very difficult. You have to show the Bankruptcy Judge you and your family would suffer 'undue hardship' which has never been established what 'undue hardship' actually is. Then you need to balance the amount you own on your Federal Student Loans in accordance with other debts you have. Like a 50%/50% balance between the federal student loans and other debts. In order to get the Federal Student Loans on the court papers you need to file what is called an 'Advisary Pleading' stating you want to include the Federal Student Loans in the Bankruptcy Procedure. I have a Bachelor's Degree and borrowed $68000 by 1998. Now the amount is over $150000.00 with fees and service charges etc. Im still not working. It just keeps accumulating. My medical bills from a ruptured disc is about $50000.00 Thats about 1/3 of what I would need to have a chance to get my Federal Student Loans dismissed. Then to come up with the money for the Bankruptcy Attorney who knows how to handle the Federal Student Loans to begin with is another $3000.00 by itself. If I can help anymore. Let me know. Walter Burchett BPower77@Hotmail.com
After graduation, remember your student loans. Think about your repayment options and now might be a good time to consider student loan consolidation.
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james
Federal Student Loan
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