bankruptcy student loans undue hardship

bankruptcy and student loans?

Hi,

This past year I applied for and received a bankruptcy discharge for medical and credit card bills. I have student loans (both federal and private) in excess of 100,000. My bankruptcy attorney said that my loans were not dischargeable. However I did read that some student loans can be dischargeable if it would cause an undue hardship. Given that my monthly payments will be in excess of 1000 and I have a job that only pays 39,000 yearly, and am already having trouble paying the loans, could this be considered undue hardship, or is the law so strict that I pretty much have no hope?
Thank you

I agree with Suddenly Human. I would recommend that you look at the income-based repayment plan and think about applying. Your payments are extended for 25 years… but in your case, I don’t think you’d pay them off any sooner, and your payments are based off of your income and household size. After 25 years of on-time payments, the balance is forgiven.

Here’s a link: http://www.ibrinfo.org/what.vp.html