Are you one of these 41 million Americans?

Of the more than 300 million Americans residing in the United States, a staggering 41 million are burdened by student loans. If you are struggling to pay back your student loans, you are certainly not alone. And if you are frustrated by the limited payment options available to you, you are not alone either.

Generally, student loans are not dischargeable under Chapter 7 or Chapter 13 bankruptcy. In order to qualify for an exemption, you must be suffering a truly significant hardship that reaches beyond the “ordinary” extended debts of most individuals. Judges allow very, very few individuals to discharge student loan debts in bankruptcy, so individuals bogged down by the weight of their student debt have few options.

However, it is important to note that bankruptcy may help individuals struggling with student loans. The protections of bankruptcy may enable other debts to be discharged or reorganized in such a way that income is freed up for student loan payments. In addition, other debt relief options like debt consolidation may help you regain financial stability.

You are not alone in your student debt struggles. And though you may not be able to completely discharge your student loan debt, an experienced bankruptcy attorney may be able to help you take advantage of other debt relief options and ultimately help you secure a strong financial footing. For better and for worse, you cannot hide from this debt. And while federal student debt tends to die with you, any private student loan debt you have taken out will affect your estate if it is not paid back at the time of your death. So please, even though it may be difficult, speak to an attorney and face this debt head-on.

Source: The Huffington Post, “Liberate 41 Million Americans From Student Loan Debt,” Richard Eskow, Mary Green Swig and Steven Swig, Jan. 26, 2015