According to the Department of Education, a federal student loan is considered in default if no payments have been made in 270 days. Between the last payment and default, the loan is considered delinquent. The penalties for a student loan default can be severe, and repaying the loan will be significantly more difficult. However, there is one option that you might not be aware of: Rehabilitation. Here are some things worth knowing about it.
Defaulted student loans are a very serious burden for debtors, and more information can be found here. If you are having trouble paying off your student loan debt, talking to an experienced Las Vegas bankruptcy lawyer can help you assess your options. Filing chapter 7 bankruptcy can discharge other unsecured debts, which will free up payments for your student loans.
For more questions about bankruptcy in Las Vegas, please feel free to contact an experienced Freedom Law Firm Las Vegas bankruptcy attorney for a free initial consultation. Call us at 1-702-803-9251 to set up your free consultation.