Legal Question in Bankruptcy in Florida

Tried to submit earlier, but did not seem to take the question: Are student loans covered under bankruptcy? My parents co-signed on my student loans,now they are on a fixed income,and they can't pay them without hardship,and I have no full time job, and the job I have is food server, and there is no way I can possibly ever pay the $700.00 per month for student loans as well as other debits and live. I have been told that my parents could sue me and get out from under being responsible for the loads, is that correct? If so what would happen if I could not repay them?


Asked on 6/03/11, 6:34 am

1 Answer from Attorneys
Sanford M. Martin Sanford M. Martin, P.A.

Based on my understanding of the facts described in your inquiry, under current bankruptcy law, Federal and Florida, you may not obtain discharge of student loans. Similar to most taxes, regular student loans may not be discharged. Unless the student loan has special provisions relating to joint responsibility for payment, a lawsuit of your parents against you for payment of the loans is not a solution for their legal liability. A successful lawsuit may affect their liability to you but their liability to the lender. The liability will continue until either paid, or is resolved through change of law, a provision of the loan agreement, or payment by an employer.

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Answered on 6/03/11, 7:15 am


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