How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TJ, Esq. Your Own Question
TJ, Esq.
TJ, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 11626
Experience:  JD, MBA
Type Your Bankruptcy Law Question Here...
TJ, Esq. is online now
A new question is answered every 9 seconds

How does bankruptcy work? If I have private loans will it apply

Resolved Question:

How does bankruptcy work? If I have private loans will it apply if I file for bankruptcy?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  TJ, Esq. replied 4 years ago.
Hello and thank you for allowing me the opportunity to assist you.

What kind of private loans? Student loans?
Customer: replied 4 years ago.
Yes, private student loans.
Expert:  TJ, Esq. replied 4 years ago.
Hi again.

I'm sorry to say that bankruptcy does not discharge any student loans, even private student loans. There is an exception for extreme cases where the student loans are exceptionally burdensome. Generally speaking, a person cannot get student loans discharged unless he has no hope of ever repaying any part of the debt. This may sound like hyperbole, but you almost have to be a vegetable in a hospital to get student loans discharged in bankruptcy.

I wish that I had better news. Please remember to click accept. Thank you.
TJ, Esq. and other Bankruptcy Law Specialists are ready to help you

Related Bankruptcy Law Questions