How can you declare bankruptcy on private student loans?
Jan Meriss Alfonso Assistant at Ascent Law LLC Declaring Bankruptcy on Private Student Loans There are several options for the discharge of private student loans in bankruptcy. These include repayment plans and adversary proceedings. Here are a few examples. These options may be the best way to pay back your debts while protecting your credit. Also, be sure to read up on bankruptcy laws so you can make an informed decision about the right bankruptcy option for you. Alternatives to bankruptcy If you're struggling with private student loans, you may not have as many options as borrowers with federal loans do. However, there are still alternatives available to you. You can negotiate lump sum settlements with lenders, set up monthly payment plans, or defend against collection lawsuits. If these options don't work, you may want to consider filing for bankruptcy. Bankruptcy can help you eliminate the debt, and it also prevents collection agencies from pursuing you for repayment. Al...