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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Help » I graduated in 2009 as an optometrist. Haven’t got a job yet,Cant pay school loans, Can i apply for bankruptcy?

I graduated in 2009 as an optometrist. Haven’t got a job yet,Cant pay school loans, Can i apply for bankruptcy?

I graduated in 2009 as an optometrist. Haven’t got a job yet,Cant pay school loans, Can i apply for bankruptcy? I have more than 300k as school loans ! I paid for 4 months but cannot pay further. What is the best solution?

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3 Responses to "I graduated in 2009 as an optometrist. Haven’t got a job yet,Cant pay school loans, Can i apply for bankruptcy?"

  1. starsthatmystify says:
    your best bet is to apply for a deferment or see if you can pay based on what income you have coming in now.

    student loans are usually federal, and it MUST be paid back. contact your lender and do your best to work with them, otherwise you will end up defaulting on your loan and they will start taking money out of your paycheck every week, or your tax refund…

  2. spalmer says:
    Student loans are not dismissed with bankruptcy. It’s the one kind of debt that is with you until death. There are a few exceptions, and as a medical professional, you would probably qualify if your willing to practice or teach medicine in low-income, inner-cities, or in different nations. This site gives more information: http://www.finaid.org/loans/forgiveness.phtml

    In rare cases, courts will dismiss your stafford loans; however, it would have to prove that it would cause you incredible hardship. You’re a doctor, it may take you a few years to get on your feet, but eventually you’re going to be doing great. You took out the money and got the education, you should be willing to pay it back. We’re in this recession because of greedy people taking out loans and racking up credit card debt and then saying “whoops, I can’t pay now.” You can request a deference for up to three years (interest will keep accruing though) – that should give you time to get on your feet.

  3. wannaknow says:
    You mean to tell me….you didn’t know this before hand!!! SMH!!!!

    very….very…bad career planning…..there goes your credit!!!!

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