What Are the Pennsylvania Bankruptcy Exemptions?

Filing Bankruptcy to Deal With Your Student Loan Debt? Here are 5 Things You Should Know! Student loan debt is a serious burden and filing bankruptcy may seem like the only way to deal with it. However, it's important to note that student loans are not easily discharged through bankruptcy. Before you consider filing for bankruptcy, there are five key things you should know.

First, many private and federal student loans cannot be discharged in a bankruptcy case, so if you decide to file for bankruptcy protection, your student loan debt will still remain after the case closes. Second, depending on the type of loan and other factors, some federal loans might be eligible for discharge in certain circumstances. Third, discharging your student loan debt through bankruptcy can have long-term financial implications since it could stay on your credit report for up to ten years.

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