Student Loans

I am in over my head with student loans!!! In May I will have been out of school for 7 years. if I declare bankruptcy will this take care of my problem?

Posted on Thursday, February 19, 2009 | Filed under: Bankruptcy
 posted by Questions @ 11:03 am 1 Comment
1 Expert Comment:

 At February 20, 2009 | 6:48 am , Barton Goth, Trustee in Bankruptcy Said...

If May is the 7 year anniversary, then June 1, 2009 is likely the first day you would want to consider filing bankruptcy. As long as that 7 years has elapsed then your student loans will be cleared if you file for bankruptcy. The trick is you need to determine the last day you physically attended school, if it was May 6th for example, then your last day of attendance is deemed to be the end of that month and the first day you could be released if you file for bankruptcy is the first of the following month (i.e. June 1, 2009).

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