Although it is an unfortunate fact that even those who have pursued the course of further education find themselves under a debt load they cannot bear, the options can seem severely limited for those students who wish to reduce their college financial debt. One of the less popular means of student loan debt reduction, Chapter 13 bankruptcy, is like a double-edged sword. It may provide relief to your debt problems but not without doing some damage to your credit rating for the long term.
Still, if you wish to get some relief from aggressive creditors and immediately deal with your student loan debt reduction, Chapter 13 is your best bet. Of course, this is provided that you are able to meet the legal requirements that allow you to file for bankruptcy. Under the provisions of this form of bankruptcy, you will have the option of using a court trustee available to supervise your loan payments and getting your schedule arranged in a way that corresponds best with your monthly income.