When you yourself have a private student loan, you are eligible to student loan relief today in place of processing for personal bankruptcy: education loan coverage so you’re able to fees.
As opposed to federal student loan, personal figuratively speaking offer extra protections so you’re able to repayment and non-case of bankruptcy choices that may be useful in challenging new money and you will probably shielding from the range jobs of your individual financial. I refer to such non-personal bankruptcy selection since the education loan defense in order to repayment.
Most of these defenses need the right number of points and circumstances, so that they are utilized reduced seem to versus personal bankruptcy possibilities so you’re able to personal education loan individuals. (more…)