Consolidating debts net
The type of bankruptcy that you file will determine what happens to your debt once you file.
If you file for a Chapter 13 bankruptcy, you will get started with a repayment program that is administered by the court.
Some are afraid that there will be a student loan “bubble” like there was in the housing market and in the stock market.
The cost of a secondary education has increased substantially in recent years and it’s not showing any signs of slowing down any time soon.
While the costs have gone up, the importance of getting a college degree is still there.
Without getting some kind of education after high school your chances of getting a good job or making a decent wage decrease dramatically.
Because of this, many people who are interested in going to college have to explore different options for coming up with money to pay for school.
If you instead file for a Chapter 7 bankruptcy, you may be able to have your debts discharged.