https://ficoforums.myfico.com/t5/Student-Loans/Just-Filed-Chapter-7-no-choice/m-p/4300793#M19045 <P>Federal law states that student loans cannot be discharged in bankruptcy except in unusual circumstances where being required to repay the loan will cause an "undue hardship" for the borrower. &nbsp;The standard is&nbsp;a high one, and not many people reach it. &nbsp;It looks like you could apply for the income-contingent repayment plan on Parent Plus loans after they are consolidated. &nbsp;I would contact the collection agency that currently holds your loans, and let them know you'd like to consolidate them to get out of default. &nbsp;Then, you can apply for ICR with your new loan servicer. &nbsp;That will tie the payments to your income, and keep the loan from going late again.</P> Wed, 28 Oct 2015 23:30:45 GMT SCF 2015-10-28T23:30:45Z https://ficoforums.myfico.com/t5/Student-Loans/Just-Filed-Chapter-7-no-choice/m-p/4300068#M19044 <P>Just out of shear curiosity, why cant people file chapter 7 on parent plus loans?? I filed Bankruptcy, obviously i cant afford to pay it, so what do people do?</P> Wed, 28 Oct 2015 16:35:34 GMT https://ficoforums.myfico.com/t5/Student-Loans/Just-Filed-Chapter-7-no-choice/m-p/4300068#M19044 wahoojack13 2015-10-28T16:35:34Z https://ficoforums.myfico.com/t5/Student-Loans/Just-Filed-Chapter-7-no-choice/m-p/4300793#M19045 <P>Federal law states that student loans cannot be discharged in bankruptcy except in unusual circumstances where being required to repay the loan will cause an "undue hardship" for the borrower. &nbsp;The standard is&nbsp;a high one, and not many people reach it. &nbsp;It looks like you could apply for the income-contingent repayment plan on Parent Plus loans after they are consolidated. &nbsp;I would contact the collection agency that currently holds your loans, and let them know you'd like to consolidate them to get out of default. &nbsp;Then, you can apply for ICR with your new loan servicer. &nbsp;That will tie the payments to your income, and keep the loan from going late again.</P> Wed, 28 Oct 2015 23:30:45 GMT https://ficoforums.myfico.com/t5/Student-Loans/Just-Filed-Chapter-7-no-choice/m-p/4300793#M19045 SCF 2015-10-28T23:30:45Z