Facing Bankruptcy as a Student
Many Americans go through extensive schooling in order to prepare for an exciting career or just to improve their appreciation of some aspect of life. However, this education comes with a high cost. A student can acquire substantial debt in a relatively short period of time. To make matters worse, students rarely have the opportunity to immediately get a job that pays enough to cover the cost of these debts. The result of this conundrum is the possibility of bankruptcy for many students.
To learn more about your options as a student facing bankruptcy, contact Florida bankruptcy lawyer Ryan J. Really, Attorney at Law, PLLC, at (239) 237-0675 today.
Student Bankruptcy Concerns
When a student files for bankruptcy, there can be several unique concerns or problems. There are some options or challenges that may be unexpected when a student approaches bankruptcy proceedings. These issues can include the following:
- Student loan debt cannot be discharged in Chapter 7 bankruptcy
- Tuition credits are exempted under Ohio’s state exemptions
- Low-wage workers may be able to exempt more of their paycheck than normal
Students facing bankruptcy may need to be especially careful about filing for bankruptcy exemptions and other methods to reduce the overall impact of bankruptcy on their already troubled finances.
If you are considering filing for bankruptcy, but are burdened by the many serious financial issues facing students, we may be able to help. For more information regarding your options, contact Florida bankruptcy attorney Ryan J. Really, Attorney at Law, PLLC, by calling (239) 237-0675.