Hi, I’m Mike Greiner and I’m a Bankruptcy Attorney here with Financial Law Group located at 12 and Hoover in Warren, Michigan in Macomb County. And I’m here to talk to you today about student loan obligations and the fact that they’re non-dischargeable in bankruptcy. For most people a student loan obligation would be non dischargeable in bankruptcy. So that would mean for example, if you went to school and you have a student loan debt that would be some, something that you could not get rid of through a bankruptcy.  Even if your a parent and you co-signed on a student loan for your child, that would be non-dischargeable in a bankruptcy.

There are a couple of exceptions to that. The main one being that essentially if you are not ever going to be able to pay that student loan debt then, that might be dis-chargeable. It’s a very difficult standard to meet basically you need to file a lawsuit to pursue it but typically it would be for example if someone disabled is on social security disability and expected to be on social security disability for the rest of their lives. That will be the type of person who probably would be able to get rid of a student loan debt through bankruptcy.

The other reason that I’ve seen that student loans have been discharged is where there was identity theft. But other than that, student loans can be very difficult to get rid of in bankruptcy so I think that’s an important issue to bear in mind before you start financing a college education or the college education for your children through student loan debt because down the road it might be the kind of debt that you can not address through bankruptcy. If you want to find out more about student loans and bankruptcy, please feel free to call my office for your free consultation.

My phone number is 586-693-2000. And my website is www.financiallowgroup.com.