Is there anyway to get your loans wiped out?
I am 21 and I have one more semester left until I graduate.
I am 21 and I have one more semester left until I graduate.
Kristine
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In short? No apart from paying them. Filing for bankruptcy *DOES* *NOT* have any effect on a student loan!!!
Been there
You haven't said how old you are - however, assuming you are young, do the following:
1 - Contact your lender - they sometimes can work out a deferral which will give you time (a couple months) to work out your problems
2 - during this deferral time - try to get your other bills in order.
3 - Seek some financial help from your local credit counseling - this is a free service - take advantage of it. It can save you from Bankruptcy.
4. - If the last resort is bankruptcy, do that - but remember, this is on your record for 7 - 10 years depending on the state and most bankruptcy laws have changed in the past year, making it more difficult to make an easy bankruptcy.
ABOVE ALL - - - -DO NOT REPEAT THE PROCESS NEXT TIME!
cirestan
As a last resort you can file for bankruptcy. This will not affect some loans like Student Loans, and if you try to get rid of your mortgage or car loan the bank will take your house and car.
Joe
Without paying them off, you can get a loan consolidation to reduce your payment. You can try bankruptcy to get them wiped out. If they are student loans, you can't file bankruptcy on them. Your best bet is to consolidate you loans.
Anonymous
it's called bankruptcy. it's a somewhat drastic step, and you will have to follow court orders and divide up your assets among your creditors. on the other hand you will have clean credit. student loans and child support are not affected by bankruptcy.