There is a guy that got his student loans discharged in bankruptcy and he wasn’t disabled.
https://finance.yahoo.com/news/student-loans-discharged-in-bankruptcy-kevin-rosenberg-190151284.html
I have his filings.
Does anyone know a lawyer that is willing to duplicate what he did?
Where are you located?
I am located in Chicago
Hi @DrNate, while difficult, it is not impossible to discharge a student debt in bankruptcy.
In terms of finding a lawyer who might be willing to help out, the only advice I can give is to start calling around to various bankruptcy lawyers in your area. You should make sure in advance that you understand how much it will cost to hire the lawyer. Many lawyers will at least hear you out to describe your situation to determine whether or not there is a possible chance of success, and won’t charge you for that initial conversation. But you should be clear about that ahead of time.
You will note from the article you posted that this particular person decided it cost too much to hire a lawyer and represented himself (because he was a lawyer himself). You might run into the same issue.
My understanding is that it is still quite rare to be able to get student debts discharged in bankruptcy, and that it is only a realistic option in specific circumstances. But it is worth exploring. There should be no shame or stigma around bankruptcy. It is a legitimate option depending on your circumstances.
I am a public school teacher for 20 years now having done all my education in NYC place of birth my student direct loans are at 187k. Yup…when I took those loans out in the late 80s and early 90s the interest rates were high. I went to Marymount Manhattan College, HUNTER for my MA and another MA from the New School for Social Research. I went to get my MA in education when under George Bush our economy was in a slump and the only job I could get with a BA and MA from The New School was as a cashier at Tower Video in NYC. So I went back to get an MA in elementary education to try to secure a job. As a public school teacher in NYC teaching at PS 189 my first job I wasn’t making enough money in my salary to repay at that time my 40k monthly payment and cost of living etc. So now at 52 I’m still teaching but now in California the total consolidation of my William D Ford direct loan is 187k. The forced me to default so then I became ineligible for the public service forgiveness and or repayment (which is a total fiasco anyhow) and I filed for Chapter 13 already 2x. My Chapter 13 lawyer said in order to get the debt expunged you have to really show financial hardship and my former lawyer said it would cost in attorney fees quite a lot like 20k to try to get the student debt forgiven. I’m just praying on this next election that Sanders or Warren are voted into office. I definitely will not see any relief in my educational student debt under the current administration. I am a hard working public school teacher with 187k in government student loan debt due to my own government ripping me off with high interest rates as an 18 year old kid trying to get an education. It’s sickening really sickening to be in this predicament and I wish I would have left the USA in my 20s and made a life as a citizen in another country to escape the situation that I am now in at 52 near retirement age.
I am so sorry that you are dealing with this @Teacher187k
You are not alone!
Let’s do everything we can to win full cancelation. We are organizing here: Organizing to win College For All
We also have a student debt strike going that you can sign up for here: strike.debtcollective.org and can tell your friends to spread the strike.
Are your loans still in default @Teacher187k? If so, we want to reframe this as being on strike.
If your loans were in default but are not anymore, I think it is still possible to get into PSLF but it will depend on a number of factors. If you want to DM me we can look into your situation in more detail and figure out what your least bad option is for the time being.
Thanks for your understanding and for addressing this crisis in The United States. My loans are in default because they essentially forced me to default wanting such a high monthly payment from me. Now at 52 I make a fair salary as a public servant but teacher’s salaries only increase by years of service and education as far as your degrees. So much of my early career in NYC and LA my annual and monthly salary was not where it is now which is finally a fair salary given all the obstacles teachers now face in our public schools. I’ve been a teacher in high need areas like Washington Heights NY and South Los Angeles. So yes my direct loans are in default because I had few options then I filed for a Chapter 13 and now I’m just waiting for some action on this issue of student loan debt in America and a new administration.
I dont know how to DM you because I could not find that email or contact ability. Yes I’m still in default.
I am so sorry that you are dealing with this.
Since you are already in default, and have already been hit with the negative consequences of being in default, we are encouraging people already in this situation to reframe their non-payment as being on strike. It is not an issue of personal failure, it is a powerful act of collective resistance. You can join the strike here: strike.debtcollective.org
I would encourage you to explore what options might be available to you to get yourself into a more protected situation. It depends on your personal situation, but some of these options may or may not be available to you. You can learn more here: