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We can help Boston clients plan around non-dischargeable debt

Several of the last posts have discussed how student loans work in bankruptcy. Basically, a student loan debt, under current law, is a non-dischargeable debt, meaning that even if a family from the Boston area goes through the bankruptcy process, it will remain the debtor's full responsibility.

Although there are several types of non-dischargeable debt, student loans, along with child support, may well be the most common. While there has been some push to change the bankruptcy law's approach to student loan debt, for now Massachusetts residents who need to eliminate debt will simply have to plan around their outstanding student loans.

However, our law offices can help with post-bankruptcy financial planning such that, even if a person has sizeable student loan debt, he or she can still take advantage of the opportunities that bankruptcy offers. We analyze our clients' overall financial situation to make sure that bankruptcy is the right option for them.

We can help our clients come up with a plan so that after bankruptcy they will be able to pay their bills so long as they stick to a budget. That way, our clients can know they will leave bankruptcy with both a greater sense of financial security and increased confidence that they can handle the future. This outcome is a possibility even when one of our clients will have to continue paying down student loans.

If you would like more information on the range of services our law office offers, please feel free to explore our website.

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