Are you facing financial hardship and cannot keep up with your student loan payments? Are you looking for financial relief and wants to explore options that can make your situation much easier to bear? Attorney Crsipin Lozano can certainly help you! Attorney Lozano is an experienced bankruptcy lawyer who has helped numerous clients throughout Northern California.
Generally, student loan is not dischargeable under any chapter of the Bankruptcy Code unless you can prove to a judge that you have an “undue hardship” that makes it impossible for you to pay your debt. Examples of an undue hardship include a disability that is severe enough that it stops you from working. A Bankruptcy can, however, eliminate other debts that are competing for your income and provide a measure of peace during a Chapter 13 plan. In addition to Chapter 13, some courts permit the debtor to separately classify a student loan so that a greater percentage of disposable income goes to the student loan than non-secured debt.
Filing for Chapter 13 bankruptcy can restructure your student loans along with other debt into a manageable three to five year payment plan. If you are ineligible and do not meet the undue hardship criteria, bankruptcy can still help you in important ways.
Filing for Chapter 7 bankruptcy can get rid of your other debts such as credit card and medical bills, giving you some breathing room, to better manage your student loan debt.
For a free initial consultation about filing for bankruptcy with Attorney Crispin Lozano, call (510) 538-7188 or contact us online. Our office is open weekdays from 8:30 a.m. to 5:30 p.m.