Student Loan Debt - Robert J. Adams & Associates
Robert J. Adams & Associates

Student Loan Debt


One of the most common questions we get is whether student loans are dischargeable. And we have to be the bearer of bad news — no, you cannot get rid of school loans in bankruptcy. Only in very rare cases of “undue hardship” can student loans be forgiven.

Bankruptcy May Still Be Part Of The Solution

The average college graduate is saddled with $30,000 in student loans. You probably also have rent or a mortgage, a car payment and other monthly expenses. It is not uncommon for recent graduates to make ends meet by relying on credit cards or payday loans. You can only defer your student loan payments so long before you begin to accumulate interest and penalties. Soon the collection agencies get involved.

You cannot discharge federally guaranteed college loans in bankruptcy. However, many of your other debts, including credit card balances and traffic fines, can be eliminated or reduced through Chapter 7 or Chapter 13 personal bankruptcy.

Let’s Discuss Your Debt Portfolio

If your student loan debt is just one part of a bigger debt problem, the attorneys of Robert J. Adams & Associates can determine if you are a candidate for bankruptcy. Our lawyers serve clients in Cook County and Lake County, with offices in Chicago (West Loop) and Waukegan.

Call (312) 724-5650 or contact us online for a free consultation with one of our experienced Illinois bankruptcy law attorneys.

Call For Your Strategy Consultation
(312) 724-5650