As I’ve stated in previous blog posts, student loan debts will be eliminated with personal bankruptcy after you’ve ceased to be a student for a minimum of seven years. There has been some confusion with this in that past as people aren’t sure when the seven years is up. It has to do with when you CEASED to be a student. It’s not the age of the loan that matters.
Therefore, if you received your final student loan in the fall of 2008 and graduated in May 2009, the seven years is calculated from May 31, 2009.
If you are unsure of this date, you should contact your former school/institution for confirmation prior to your filing.
If you are struggling to pay back your student loans, we can help. Contact our office for a free initial consultation.
