Have you heard that getting rid of student loans through bankruptcy was almost impossible? Well, things are changing, especially for many folks in Minnesota. There’s a chance now that you might be able to get your student loans discharged.
How can you prove that you qualify? There are two things to show:
- You haven’t ignored your loans in the past. You can prove this by signing up for income-based repayment, even if you don’t have to pay anything monthly. It’s a thing where you send your tax returns to the loan company every year. Or, if you’ve made some payments on your loans before.
- Your financial situation won’t change. You can show this if you graduated or stopped studying more than 10 years ago. Or if you’re working in a different field from what you studied, like having an English degree but working in a restaurant. Also, if your school closed down.
Why is this happening now? The government decided it’s time to let people who really needed to get their student loans discharged in bankruptcy.
However, not all loans can go away. Private student loans and newer loans might stick around if you’re working in the field you studied.
At Walker and Walker, we’ll look at your loans and money situation for free to see if you can get your loans discharged. We’ve got payment plans starting from $75 every two weeks, and we can start your case without making you pay any lawyer fees upfront.
Often, we see folks with lots of credit card debt, but their huge student loans still hang over them. Bankruptcy is supposed to give a fresh start, but that’s hard when student loans stick around.
If you live in Minnesota and want to know if you can discharge your student loans, call Walker and Walker today at 612 824 4357. Getting rid of student loans might be more possible than you thought!