This may vary from circuit to circuit, but in the 7th Circuit, student loans can and do continue to accrue interest during the Chapter 13.
Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
If the student loan is a federal loan and not a private loan then the answer is no. Federal student loans can not be included in bankruptcy, you will always be responsible for repayment of FEDERAL student loans.
According to my Spanish teacher, student loans are the only things that cannot be "wiped out" by declaring bankruptcy. She told us that the government will continue to reach into your bank accounts until that money is payed off.
Some loans, like student loans, may not be included in your bankruptcy. The only way to get rid of them is to pay up. The longer you wait, the larger the debt becomes due to the accrual of interest.
Government insured student loans are exempt from the Bk process. They must be paid. However, they will not collect money from you until the bankruptcy is dismissed or discharged, but it will still accrue interest during that time.
You must list all debt owed in a bankruptcy. In a Chapter 7 Bankruptcy federal student loans are listed on Schedule F as a unsecured non-priority debt with an indication that they are student loans. Please note that nothing in this posting or in any other posting constitutes legal advice.
Student loan bankruptcy happens when a student has not been a student for the last 7 years and declares bankruptcy. For more information please contact a student loan office.
No. Under no bankruptcy scheme will student loan obligations be dischargeable. Rather, they will remain with you until they are paid off and just because you have filed for bankruptcy does not mean that the loan interest rates will stop either. This is a debt you should attend to as soon as you can and if it is a major reason for your filing for bankruptcy then I urge you to reconsider and speak with an attorney first.
Student loans from any lender are not usually dischargeable in bankruptcy. They will temporarily stop collection during the proceedings, but interest will continue to accrue.
in most cases you can't included student loans in the bankruptcy filing. It would all depend on who your're trying to get the loan from. Some would let you have a loan (like the government student loans and stuff) but if your trying a private place like a bank you might not be able to.
Federal Student loans cannot be discharged in bankruptcy. You must repay them.
You pay it.
Only if the bankruptcy is currently discharged.