Houston, TX Student Loan Debts Attorney

Dedicated Lawyer Assisting with Student Loan Discharge and Debt Relief Options

Student loans are one of the leading sources of debt for young adults—and even middle-aged adults. A college education can cost upwards of $75,000. If you went to graduate school or obtained a professional degree, your student loan debt might be well into the six-figure range. Student loan debt can quickly become insurmountable, especially for those who are not able to obtain the type of employment they thought they would be able to after graduation. Since few people are able to pay for college out of pocket, and "working your way through college" is no longer realistically possible for the vast majority of students, very few escape without student loans.

The Fealy Law Firm, PC is experienced in helping graduates who are struggling to pay their student loans. Skilled bankruptcy and debt relief lawyer Vicky Fealy will do all she can to help you resolve your student loan debt in any way possible. Unlike credit card debt or medical debt, student loans are not automatically eliminated during bankruptcy. However, there are some graduates who can see their student loan debt dismissed. Attorney Fealy can help you determine whether you will be able to discharge your student loan debt or what other options for debt relief may be available.

The Undue Hardship Test and Student Loan Discharge

To have your student loan debt discharged during the bankruptcy process, you will need to prove that having to pay it back would cause undue hardship. This generally applies to students who have become disabled or are otherwise experiencing severe and unusual circumstances that make repayment impossible. The undue hardship test has three elements you must prove:

• You cannot maintain a basic standard of living if you have to repay the loans - This means that you cannot possibly both support yourself and make minimum monthly payments. A basic standard of living for the purposes of this test is indeed basic. If you cannot pay reasonable rent, purchase sufficient basic groceries, cover the costs of your necessary medical care, and keep up with utility bills while repaying your student loans, you may meet this requirement. In essence, if making minimal payments would leave you unable to meet your most basic needs, you might pass this portion of the test.
• The circumstances causing your hardship would last most or all of the repayment term - If the issues that are preventing you from making payments are temporary, this part of the test will probably not be met. For example, if you have an illness or injury you are expected to mostly recover from in the next several years, the court may want to postpone rather than cancel your repayment obligations. However, if you have developed a permanent disability, such as a traumatic brain injury that has caused irrecoverable damage, then you may qualify.
• You were making good-faith efforts to repay the loan before filing for bankruptcy - If you had been keeping up with payments before becoming disabled or experiencing severe hardship, or if you have at least been trying to meet your obligations in good faith, you may meet this element. However, if you had stopped trying to make payments before your hardship set in, you may not pass this portion of the test.

The undue hardship test is designed to be challenging to pass. Student loan debt can be very difficult to discharge, even if you truly cannot repay the loan despite your best efforts. An attorney can investigate and gather a good amount of evidence to help you prove that you qualify for student loan discharge.

Contact Our The Woodlands, TX Student Loan Debt Relief Lawyer

The Fealy Law Firm, PC is dedicated to helping qualified graduates discharge student loan debts and other types of debts through bankruptcy. Attorney Fealy will gather all relevant evidence to help you meet this difficult test. Contact us at 713-526-5220 for a complimentary consultation.