The bankruptcy law is meant to come to the rescue of an honest debtor, who is in debt which has crossed his present limits of repaying. Bankruptcy is a legal procedure for dealing with the debt problems of individuals and businesses and discharges financial obligations. This procedure is covered under Title 11 of the United States Code (the Bankruptcy Code). The vast majority of cases are filed under the two main chapters of the Bankruptcy Code, which are Chapter 7 and Chapter 13.
Student loans are generally not discharged in a bankruptcy proceeding. There is actually some logic behind this decision. Congress wanted lenders to be keen to lend money to students in the form of student loans. This sees to it that more young people have access to a college education. In making it possible to wipe out a student loan with bankruptcy, fewer lenders will be keen on doling out such loans in the first place. As such, declaring bankruptcy on student loans is not usually possible. But it is not impossible either. While it is not impossible, it is certainly difficult. An experienced bankruptcy attorney can analyze your situation and may be able to obtain a discharge for your student.
We are based in Athens, GA (Georgia). We can help you file for bankruptcy if you are located in Athens, Watkinsville, Carnesville, Elberton, Homer, Jefferson, Danielsville, Lexington, Hartwell, Winder, and Clarke County, Oconee County, Elbert County, Franklin County, Banks County, Jackson County, Madison County, Hart County, Barrow County and Oglethorpe County, Piedmont Judicial Circuit, Northern Judicial Circuit and Athens-Clarke County.
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Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy
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