Re: What forms do i need??

Dear Sir or Madam:

I offer the following advice based on the facts you provided and Pennsylvania Law.

You have stated that you wish to file Bankruptcy. As an individual you would likely file a Chapter 7 Bankruptcy. This Bankruptcy would discharge you from some but not all debts that you owe at the time of filing.

Some debts that you have incured, by law, may not be dischargeable. Specifically listed in the Bankruptcy Code as a debt that is not dischargeable are "student loans". The Code does permit a person filing for a Bankruptcy to discharge student loans but only in very exceptional situations. If the majority of your debt comes from student loans filing bankrupty will not necessarily fix your financial problems. In reality it may only hurt you in the long run becuase of the adverse effects such a filing may have on your credit history.

Student Loan companies are willing to attempt to work out plans with the holder of the loans to make smaller payments over longer periods of time. If you have not had success in attempting to get this type of relief it may be a good idea to retain an attorney to assist you in lowering the payments and restructuring your other debts. In addition an attorney would be able to view your overall finances and determine if a bankruptcy filing would perhaps be in your best interest.

I would be able to perform these services for you. If you are interested in retaining my services please contact me at the below number.

Thank you ,

Patrick W. Carothers

(412) 355-0200 x6153

or email me at pwc@sgkpc.com

Re: What forms do i need??

Bankruptcy might not be the answer to your problems. If the letters from the Dept of Ed. have to deal with student loans, there is a good chance that they will not be discharged. It is best to consult with an attorney and develop a plan.