Is Bankruptcy an Option if I am Being Sued for Student Loans
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Is Bankruptcy an Option if I am Being Sued for Student Loans

Question: Is bankruptcy an option if I am being sued for student loans?
Answer: Yes, bankruptcy is an option for the person in a financial crisis, even if you are sued for student loans – although you should not expect your student loan obligation to be discharged. There are very specific and narrow circumstances where a student loan can be discharged, but for the most part a Chapter 13 bankruptcy in Utah can help you reorganize your finances and pay off your student loans with more reasonable terms. For example, if the student loan debtor is being unreasonable and refuses to yield on the terms of the contract, a Chapter 13 bankruptcy can restructure the terms of the student loan so that you can make payments again (which can even be paid off through the bankruptcy). It also prevents the debtor from calling and harassing the borrower.

 

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