Can student loans be discharged through Chapter 7 Bankruptcy?

In most cases, student loans cannot be discharged through Chapter 7 Bankruptcy in the state of Virginia. Chapter 7 Bankruptcy is a filing used by individuals to get rid of certain debts, such as credit card debt, medical debt, and other consumer debts. However, in Virginia, student loans are not considered consumer debts and are not dischargeable. In some cases, a court may find that the repayment of a student loan would cause an undue hardship, and may grant a discharge of the debt. This is a long and difficult process, however, and requires the debtor to prove that paying the loan would make it impossible for them to maintain a minimal standard of living. It is also a rare occurrence. Despite the difficulty of getting the loan discharged, there are still other options that may be available through Chapter 7 Bankruptcy, such as reducing the amount owed or extending the term of the loan, which can reduce the monthly payments. It is important to note that these options depend on the lender and the type of loan being addressed. In most cases, student loans must be repaid regardless of filing for bankruptcy. Therefore, it is important for individuals to consider all of their options and speak with a reputable attorney before filing for bankruptcy.

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Can student loans be discharged through Chapter 7 Bankruptcy?

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