Can you file bankruptcy of student loans?

bigstock Cost Of Education Is Serious P 3317582 Can you file bankruptcy of student loans?

If you are among those who are asking themselves, ‘Can you file bankruptcy of student loans?’  The answer is NO.

Student loans MUST be paid back – no matter what. You cannot file for bankruptcy on students loan. This is why it is important that you know where you stand financially before you take a student loan. Once you take a student loan, you are mandated to repay the loan. There are exceptions – but these exceptions are subscribing to extreme situations, for which you most likely do not qualify.

However, there are alternatives to filing bankruptcy of student loans. Some options are working part-time and making enough to send money “home.” If you are already working part-time or full-time, yet are still unable to make the payments, approach your parents.

It is possible that they can lend you the money to erase the debt.

Source:  Can you file bankruptcy of student loans?

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