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One of the most serious debt problems in Michigan is student loans. Few students can afford to pay all their tuition. Tuition costs run very high, and young people are often unable to make payments in a tough economy. Many wonder whether bankruptcy provides a workable solution for them. The answer is: it can.
The vast majority of student loans are non-dischargeable. Some student loans, such as those that are not government-backed, can be discharged. Please consult with us to determine whether your debt is dischargeable.
Even if your student loan is not dischargeable, there is this consolation: The ability to discharge other debts in bankruptcy may free up your ability to continue making student loan payments.