Bankruptcy Attorney Denver

Student loans are a non-dischargeable debt, which means that filing bankruptcy will not eliminate this debt. It may be possible to discharge student loans if you can prove that paying your student loan imposes an undue hardship on you and your family living here in Denver, Colorado.

As an attorney, we realize it is very difficult to show undue hardship unless you are physically unable to work and will have no opportunity for employment in the future. This applies to private as well as federal student loans.

A Chapter 13 bankruptcy allows a person to consolidate their student loans with their other debt and make payments into a plan for three to five years. To do this in Denver, a person must have a steady income with disposable income and meet the guidelines of secured and unsecured debt. After the life of the repayment plan you will continue to be responsible for the amount still owed on your student loans.

Student loan lenders often offer different repayment alternatives. Contact your lender and see if a repayment plan is possible where the loan is stretched out over a longer period of time to bring down your monthly payments or if you can make graduated payments which increase as your income increases. Deferment of payments would allow you to stop making payments for a set time to give you a chance to improve your financial situation. Another option would be to consolidate your student loans into one loan to be paid over a longer period of time and often times at a lower interest rate. Do you have an attorney in Denver to work with?  If not, please contact one of our attorneys right away to help you out.