I have made a promise to myself to get out of my student loan situation. First let me give you some background. I graduated in 1998 and I now have $39,500 in student loan debt. Now during this time I was financially unable to pay off this amount seeing that over the years I have only been working temporary plus the company that I worked at went under. I am currently in a position to where I am working to get out of debt, possibly through bankruptcy, and I want to try and figure out some plan to where I can pay off my loans off. If there is anyone who has gone through or is going through who could give me some direction I would appreciate it.

KNYA, before you consider bankruptcy...pleeeeeeeeeeese go to credit section & post...there are so many who can advise you on debt (& relief of it)...learn about the consequences of BK from those who have been through it...you may reconsider...just give it a shot & post a question about it there.

Welcome to the Boards!
What status are your student loans in? HAve you pulled your reports?

Have your student loans defaulted already?? If so, you choices are rehab or consolidation.

The biggie is that student loans are nondischargeable in BK. So you need to look at your entire debt load before considering BK.

I currently have it in a forebearance that's going to end in March. I get a lot of notices in the mail for consolidating my loans. Does anyone know of the benefits for doing this?