The nation owes approximately $1.34 trillion in student loan debt, causing generations of people to face economic crisis. Since people are paying on their student loan debt, many have to put off vacations, buying homes and cars, and in extreme cases even basic necessities. Other people default on these loans and end up putting their lives in jeopardy by being unable to rent an apartment or even being ineligible for certain jobs.
For this reason, the Law Office of John K. Turner will review clients' circumstances to see if they are eligible to have their student loan debt discharged or modified through a bankruptcy. While this is an option for some, there are some rules governing how a person can discharge student loan debt. First, the borrower must have extenuating circumstances which are creating the hardship (long-term illness, inability to find a job, etc.). Then the borrower must show that those circumstances are likely to continue for the duration of the loan. A loan can also be modified by the borrower through a Bankruptcy Court supervised loan modification program.
Would you like to learn more about discharging or modifying a student loan through bankruptcy? Contact the Law Office of John K. Turner and ask for your free case evaluation today. We proudly provide Sarasota and Manatee counties with top quality professional legal services.