Garnishment student loan forgiveness

[dcourtney1958]

I am being garnished for my student loan. My loans are at least 20 years old. Can I get my student loans forgiven?

 

[Betty3]

I don't believe we have enough information to say - generally it depends on the type of loan, why (the reason) you believe it should be forgiven among other information.

You can do a google search & see what information you can find.

 

[army judge]

I am being garnished for my student loan. My loans are at least 20 years old. Can I get my student loans forgiven?

Unfortunately this is a topic of confusion. Some say no, a few say yes. YMMV
Some say they write their elected US Senators and Congress Person for help.
Some say they get it removed via bankruptcy.
Most say its killing them.
Good luck.

 

[Proserpina]

Government loans are virtually impossible to get discharged in bankruptcy.

The Undue Hardship Exception

In order to have your student loans wiped out in bankruptcy, you must demonstrate that it would be an undue hardship for you to pay them. The test for determining undue hardship varies between courts.

Regardless of the test used, most courts are reluctant to discharge student loans. However, if you have very low income or your loans are from a for-profit trade school, you may have a better chance.

The Brunner Test

Some courts use the Brunner test. Under this standard, you can discharge your student loans if you meet all three of these factors:

Poverty. Based upon your current income and expenses, you cannot maintain a minimal standard of living for yourself and your dependents if you are forced to repay your loans.

Persisitence. Your current financial situation is likely to continue for a significant part of the repayment period.

Good faith. You have made a good faith effort to repay your student loans.

The Totality of the Circumstances Test
Other courts use the totality of the circumstances test,. Here, the court will look at all relevant factors in your case to determine if it is an undue hardship for you to repay your student loans.

 

[disagreeable]

Over 20 years, you have not apparently made a good faith effort to pay them off. Further, your income and assets currently are factors. Usually only those on SSI or over 65 and broke get them forgiven. Apparently you hate the power of interest compounding.