Minnillo & Jenkins, CO. LPA
Call 513-723-1600
For A No-Pressure, Free Consultation

Bankruptcy: Changes proposed re student loans and undue hardships

The pursuit of a college education is a goal for many individuals in Ohio and across the nation. However, with the staggering costs of tuition, a similar endeavor has left many struggling to pay back student loans for extended periods. For those who experience substantial financial hardships due to student loans, seeking relief has previously proved challenging, but that could change if the proposed modifications to how student loans are handled in bankruptcy are passed into law.

According to recent studies, more than 40 million Americans carry student loan debts. Those who experience prolonged periods of financial difficulty due to similar debts may also find it nearly impossible to find relief, as discharging student loans in bankruptcy may seem nearly impossible. Under current law, a person must prove that continuing to carry similar financial obligations will lead to undue hardships that lower his or her standard of living substantially.

However, legislators have proposed modifications to the process of determining what is defined as an undue hardship. Substantial amounts of student loan debt can disrupt one's finances substantially and leave a person facing a seemingly insurmountable financial obstacle. Should these changes be passed into law, more of those who are suffering a lesser quality of life may be eligible to pursue the necessary relief.

Individuals who suffer due to high amounts of student loan debt may wish to pursue financial relief, but they may feel as though their options are limited. For guidance on pursuing relief from debts, a person in Ohio could choose to consult with an attorney with experience in such matters. A bankruptcy attorney can provide a client with information on each available option and assist him or her in forming a strategy to pursue relief through the necessary methods.

No Comments

Leave a comment
Comment Information
Email Us For A Response

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Contact us right now for a free bankruptcy consultation

NACBA - National Association of Consumer Bankruptcy Attorneys

Proud Member NACBA

We are proud members of the NACBA, a national organization dedicated to serving the rights of consumer debtors. Read More

Super Lawyers

Jenkins Named Super Lawyer!

Founding partner, Christian A. Jenkins, was selected by his peers and the media as a Super Lawyer. Read More

Cincinnati Office
2712 Observatory Avenue
Cincinnati, OH 45208

Phone: 513-723-1600
Cincinnati Law Office Map

Cincinnati Office
792 Eastgate South Dr
Suite 150
Cincinnati, OH 45245

Phone: 513-685-0612
Cincinnati Law Office Map

Fairfield Office
447 Nilles Rd
Suite 9
Fairfield, OH 45014

Phone: 513-795-0995
Fairfield Law Office Map

Covington Office
526 Philadelphia St.
Covington, KY 41011

Phone: 513-795-0995
Map & Directions