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Bankruptcy & Student Loans

Los Angeles Student Loan Bankruptcy Lawyer

Are You Struggling to Pay Off Your Student Loans?

After working hard to improve your education, it can be frustrating to deal with massive student loan debt. Recent graduates often struggle to make ends meet, let alone pay down their loans. If your student loan debt is causing unmanageable financial hardship, it is time to talk with a Los Angeles student loan debt attorney.

Call our firm at (213) 344-0043 to schedule a 30-minute complimentary consultation.

Can You Discharge Student Loans in Bankruptcy?

Student loans are not dischargeable in bankruptcy if they are partly funded by or guaranteed by a government entity or a nonprofit institution. This includes any student loan that carries payments that can be deducted from income taxes under the IRS Code.

Under some circumstances student loan debt may be discharged if it is proven that they impose an undue hardship on the debtor and any dependents of the debtor. Unfortunately, the process required to demonstrate this undue hardship can be extremely difficult for most debtors because it requires filing a lawsuit against the creditor. In this lawsuit the debtor has the burden of proof. Such suits can be complicated, time-consuming, and often require the potentially expensive assistance of legal counsel.

How Do You Qualify for Undue Hardship?

Court decisions that rule the debtor is experiencing an undue hardship have been extremely rare. Typically these rulings have only been for individuals suffering from some type of severe permanent and total disability that drastically restricts the ability of the debtor to earn more than a subsistence level of income.

To qualify for undue hardship, the debtor must prove each of the following three elements:

  1. Using current income and expenses, the debtor cannot maintain a “minimal” standard of living for him/herself and dependents if required to repay the student loans; and
  2. Additional circumstances exist that show this situation is likely to persist for a significant portion of the repayment period of the student loans; and
  3. The debtor has made good faith efforts to repay the student loans.

How Can Filing for Bankruptcy Help with Student Loan Debt?

While you will most likely not be able to eliminate your student loan debt, there are ways to get the debt under control. By filing either Chapter 7 or Chapter 13 bankruptcy, you can free up funds, making it easier to pay your student loans.

Here's how bankruptcy can benefit you:

  • By filing Chapter 7 bankruptcy, our lawyers can help you discharge your unsecured debts, such as credit card bills and medical expenses. Because you will no longer need to pay those debts, money is freed up to focus on your student loan.
  • By filing Chapter 13 bankruptcy, it is possible to reduce the amount of your monthly payment to something more workable without the threat of penalty. Your student loan could also be deferred for a period of time.

At RHM LAW LLP, our lawyers know the bankruptcy laws from the inside out and will explore every option available to get the relief you need.

Helping Students with Debt in Southern California

At RHM LAW LLP, we understand how challenging financial distress can be. Our goal is to find a solution that will effectively relieve your debt burden and put you in a position to rebuild your financial health on more solid ground. We welcome the opportunity to explain the process and answer any questions you have. For your convenience, we offer payment plans.

To schedule your 30-minute complimentary consultation with an experienced student loan debt lawyer in Los Angeles, contact us today.

RHM LAW LLP

Meet Our Los Angeles Bankruptcy Specialists

Client Reviews

What Clients Say About Working With Us
    "I cannot thank them enough for helping save my home. I would recommend them for anyone that is thinking about filing for bankruptcy or foreclosure on their home."
    I needed a bankruptcy attorney in Sherman Oaks and found Matt Resnik on Google. He has one of the best-reviewed bankruptcy law firms on Yelp so I decided to check it out his law firm for myself. I quickly found out that they are foreclosure specialists and they could help me with my issue. They made the process very easy for me and laid out my options for me. I cannot thank them enough for helping save my home. I would recommend them for anyone that is thinking about filing for bankruptcy or foreclosure on their home. They are the best bankruptcy law firm in Sherman Oaks.
    - Joseph R.
    "Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding."

    Thank you for your great work on behalf of Ms. Johnson. Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding.

    - Skip K.
    "We are very happy that you were able to accomplish the modification of our loan in such a short period of time. Thank you again for your professional service."

    Dear Mr. Resnik: We wanted to thank you for your professional handling of our loan modification with GMAC mortgage. We are very happy that you were able to accomplish the modification of our loan in such a short period of time. Thank you again for your professional service.

    - W and B Mejia
    "I filed bankruptcy with this firm 3 years ago and found that they are professional, friendly, and compassionate."
    I filed bankruptcy with this firm 3 years ago and found that they are professional, friendly, and compassionate. I also met with their loan modification department. Unfortunately, they were unable to help because of the type of loan that I have. I really appreciated that they did not lie, waste my time, or take my money in an attempt to modify a loan that was not doable. I've since used their firm for a couple of minor issues and found all of the attorneys to be knowledgeable and considerate. Attorneys Simon and Resnik are amazing!
    - Shannon J.
    "These are top-notch pros that'll have your back. I cannot recommend them highly enough."
    Where to begin? I had a vile evil credit union repo my car over a misunderstanding, they wouldn't work with me even when I offered full payment plus repo fees (this was my first repo!) so I didn't know what to do. I met with a few lawyers but when I met with Simon he broke things down and gave me my options. I needed a car - so I filed BK and included the car to get it back. The evil credit union fought and Simon GOT ME MY CAR BACK!!! His team is amazing!!!! Maria Donna etc!!! These are top-notch pros that'll have your back. I cannot recommend them highly enough. Sincerely they saved my life. LA with no car!? ARGH!!!!!! *THANX ALL!!!!
    - Tim C.
    "He negotiated on my behalf with a credit card company and was able to settle with them for much lower than I could have on my own."
    I worked with David Kritzer at this firm, and he was great. He negotiated on my behalf with a credit card company and was able to settle with them for much lower than I could have on my own thanks to his knowledge and expertise in the field. If you have a debtor on your back go to him to get it taken care of.
    - Kelly S.
    "Matt and his staff conducted themselves with professionalism throughout the whole ordeal."
    I worked with Matt and his team for about a year to get through the paperwork shuffle and my personal experience was nothing short of fantastic. Legal situations have a tendency to get hairy, but Matt and his staff conducted themselves with professionalism throughout the whole ordeal. To keep it short, let's just say he under-promised and over-delivered.  Rarely would I ever say this about an attorney, but overall he was just a great guy. I would not hesitate to have him on my side of the courtroom again. World market is right across the street from his office and I even decided to get his staff a thank you / holiday gift card.  World market has excellent craft beer BTW, try the Einstock White Ale. They also validate parking. That just shows this isn't a fake review.
    - Dean C.
    "Was very impressed with the comprehensive professionalism of the firm..."

    Was very impressed with the comprehensive professionalism of the firm, especially Matthew Resnik... I had suffered through the incompetence of two previous bk lawyers not to mention fees far greater than anticipated, without resolution. Having never gone through bk before, I did not realize how difficult it could be...then, my case was turned over to Mr. Resnik...almost immediately there was a marked positive difference. Where there was little to no communication, all of a sudden I am getting updates...regularly. Further, my case was finally discharged...yet, Mr. Resnik continues to communicate, offer assistance...and, has NEVER asked for additional fees, which I am sure he could have justified...much unlike the two previous attorneys with which I was dealing. I have no reservations, whatsoever, referring and recommending Matthew Resnik for any and all business or personal bk issues...or, other wise. I have no doubt that he will be transparent on helping you regardless of the problem. Good guy.. good firm... a wonderful experience!

    - G.L
    "He made me feel like I had options, all was not lost, and I could rebuild my credit."
    Matt is the best bankruptcy attorney in Sherman Oaks. I consulted with Matt over a chapter 7 bankruptcy. I had issues with overwhelming credit card debt after Chase increased it's APR for no reason. It set off a chain of events that were really hurting me. He made me feel like I had options, all was not lost, and I could rebuild my credit after the 7. I had some concerns about a piece of property I was having issues with and Matt also turned out to be a real estate lawyer as well! I recommend this office to anyone who is unsure of their financial situation. It doesn't hurt to find out your options.
    - Max B.

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