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TJ, Esq.
TJ, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 12212
Experience:  JD, MBA
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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: 5 years ago.
Category: Bankruptcy Law
Expert:  TJ, Esq. replied 5 years ago.
Hello and thank you for allowing me the opportunity to assist you.

What kind of private loans? Student loans?
Customer: replied 5 years ago.
Yes, private student loans.
Expert:  TJ, Esq. replied 5 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.
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