Student Loan Debt Relief by Bankruptcy Lawyers in Richmond, VA

Stephen Relyea and Veronica Brown-Moseley student loan debt relief bankruptcy lawyers in richmond va

Get Help Determining if Your Debts are Dischargeable

Struggling with student loan debt can feel daunting and frustrating.

If you have debts that are hindering your ability to pay for necessities or you fear you may never be able to pay them off – there are possibilities for relief.

Bankruptcy is one tool that can help you recover your financial freedom. Most student loan debts are not dischargeable in bankruptcy – but there are some cases in which your debt can go away. Even in cases where loans are not discharged, there can be benefits to filing bankruptcy.

Financial Freedom Legal is here to help you understand this particularly complicated bankruptcy practice area. Our team will work to find your options and help you choose the best path for you.

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Dischargeable Student Loan Debt Cases

There are rare instances where federal student loans may be dischargeable in bankruptcy, but these cases are few and far between.

Private student loans may be dischargeable in bankruptcy under limited circumstances. This could include private student loans that were not used for the cost of attendance or loans used to pay for attending an institution that doesn’t meet certain criteria, such as institutions that are not accredited.

Student loan debt relief bankruptcy lawyer richmond virginia

Filing for Bankruptcy Due to Student Loan Debt

Even if your student loan debts are not dischargeable, bankruptcy can provide some hope.

If you have fallen behind on your student loan payments, the creditor may take actions to collect from you, such as garnishing your paycheck, garnishing your bank accounts, or taking away your tax refund. Filing for chapter 13 bankruptcy will stop those collection actions.

Also, a chapter 13 bankruptcy can include your student loan debt, even though the debt would be non-dischargeable. This means that while you are in the chapter 13 case, you can pay a portion of the student loan debt through your bankruptcy plan to help reduce the overall balance owed.

When your case ends, any unpaid student loan balance would remain.

Although you would not receive a discharge of your student loan debt, filing a chapter 13 bankruptcy provides you with relief from dealing with a student loan creditor for a period of three to five years while the bankruptcy is active and allows you time to get things back on track before student loan payments become due again.

Our Richmond team of nationally recognized bankruptcy attorneys will help you explore your options to see if bankruptcy may provide some financial comfort.

Veronica Brown-Moseley

Stephen Relyea

Find Relief From Your Student Loans

The Financial Freedom Legal team helps you get started with a free consultation. You can complete your consultation over the phone, virtually, or at our Richmond, VA location.

At the consultation, you will meet with an experienced bankruptcy attorney, who will help you understand all of your options for handling your student loan debt.

You will be provided with support from the time of your initial contact with our office until you reach the finish line. You also gain access to our network of community partners dedicated to helping you fully regain financial stability.

Begin your journey to financial freedom. Schedule a free consultation today.