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Your student loans are listed under Chapter 13 discharge papers with the full amount owed then the amount paid to them by the Trustee Does this mean it is settled for that amount or they are still owe?
Wiki User
∙ 16y ago
Almost all student loans are not dischargeable unless the bankruptcy court has held a hearing on dischargeability and determined there is a hardship. In most jurisdictions, a student loan is treated like any unsecured credit claim and paid at the same rate as other unsecured claims, but the balance, including accrued interest, must be paid.
Unless the bankruptcy court has determined, after a hearing, that the loans need not be repaid due to hardship, the balance due, including accrued interest, must be paid after the Chapter 13.
For the Chapter 13 Plan, student loans are treated as unsecured credit claims and must be paid at the same rate as the other unsecured claims in the Plan. Except in the case of a 100% plan, there will be a balance due after the 13.
Wiki User
∙ 16y ago
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Is a discharge the same as a dismissal in chapter 13 bankruptcy?
No. If the bankruptcy is dismissed, it ended before it was completed, very likely before discharge, although sometimes and objection to discharge is filed after something happens to make the discharge voidable by the court (trustee finds unlisted assets, for example). A discharge is essentially a permanent restraining order prohibiting any creditor from trying to collect a debt from the debtor, unless specifically exempted (child support arrears, some taxes, student loans, etc.).
I have a loan from sallie Mae supposedly for school which only took a month and they gave me acertificate can this be discharge in chapter 7?
Unfortunately no. All student loans, whether private or Federal are not elligible for discharge in bankruptcy.
Are All Kinds of Bankruptcy Debts Be Discharged?
Discharging debts depends upon the petition of bankruptcy and the chapter under which the bankruptcy has been filed. For the debt to be discharged it needs to fully settled after which you may be able to free from the burden. The bankruptcy attorney will guide you about the debts and after analyzing the situation will choose the chapter of bankruptcy under the United States Section.Debts discharge will only takes place if you file in chapter 13, where you plan a schedule to repay every debt you have on your name. On the Other hand, Chapter 7 has many exceptions like student loan, alimony, child support, fines and fees under law, debts acquired through fraud, un paid taxes or if you have received a debt discharge within last 9 years.The debts which can be discharged:Unsecured loans are usually discharged.Debts of willful and malicious injuryNon-dischargeable tax obligations.Debts from property settlement in an event of separation.Those who think that their personal debt liability will get the discharge under chapter 7 should consult their attorney to find out how and when all the debts will be discharged. In case you cannot pay back the loan due to undue circumstances you can file under 'undue hardships' and you may get a discharge. Though it is the sole discretion of the court to discharge the debt or not.Also, those debts which you have acquired using means of fraud are not easily discharged from the court if you filed chapter 7 of bankruptcy. Under chapter 13, you have to clear all the funds, and then you will get the discharge. The process of discharge or the decision over discharged debts can be invalidated if the creditor, or trustee of the court sees any wrongful document or fraud with the bank, the discharge may even be cancelled.Personal debt liability is cleared off in bankruptcy in all the chapters of bankruptcy, only the way is different. Chapter 7 liquidates and the court pays to the creditors while in chapter 13, and 1, you won't get the discharge till you pay and settle with the creditor. Any loan or debt which is not mentioned in the bankruptcy petition will not be discharged by the court. All your credit cards and liens are eliminated if you are filing under a specified chapter.
At what point in a Chapter 7 bankruptcy is it considered final with no new debts eligible for discharge?
When you file for Chapter 7 bankruptcy, you are responsible for listing all of your debts. Some debts are generally not dischargable (i.e. child support, most taxes, student loans, secured debts, etc.). When you receive a discharge for dischargeable debts, the discharge generally applies to debts listed in your bankruptcy filing and any subsequent amendments. The discharge does not apply to date incurred after you filed bankruptcy and generally does not apply to debts that you failed to list in the bankruptcy.
How can you discharge student loans?
Slave wages at best.
Who is the winner of 2009 students of petroleum engineers outstanding student chapter for the Asia pacific region?
SPE-UTM Student Chapter is the winner of 2009 SPE Outstanding Student Chapter (OSC) for the Asia Pasific Region
Student loans and bankrupsy.can they be discharged?
Student loans do not go through the discharge procedure, only bankruptcy's. A discharge takes place six months from the date you filed for bankruptcy. Then you have to wait two years from the date of discharge to apply for a home loan.
Will filing for bankruptcy reduce the principles on student loans and mortgages?
No, filing for bankruptcy does not discharge or reduce the principle on student loans, though the bankruptcy process may put 'recovery attempts' on temporary hold. Regarding mortgages, filing bankruptcy will potentially discharge your debt, though you may lose your home unless you choose to file a Chapter 13, which will allow you to consolidate debts and retain your home if you so choose.
How hard is it to claim student loans on a chapter 7 bankruptcy?
I have been through Chapter 7 twice and both times was unable to claim my Student Loan.
Can a Parent Plus Loan be wiped out in chapter 7?
Student loans are no longer dischargeable in any chapter of bankruptcy unless you can prove that repaying the loan creates an undue hardship on you or your family. Prior law allowed their discharge once they had been in pay status for 7 years. The law changed in the fall of 1998. Proving hardship usually requires showing that you can't provide a minimum standard of living for yourself and your dependents if you have to repay the loan. Some courts will discharge part of the loan on a showing that repaying it all would be a hardship. Student loans are sometimes unenforceable due to school closures, fraud, etc. Chapter 13 can provide a way to cure defaults on student loans, or to pay them off over the course of the plan.
I filed bankrupty under Chapter 13. My student loan is included in the Chapter 13 and I am paying on it. Can I still apply for another student loan?
Only if you have the courts permission
Can you file Chapter 7 Bankruptcy on a Signature Student Loan?
First, you don't file BK on a thing..a loan or a debt...YOU file BK and it effects everything you own and everything you owe. No picking and chosing. Gov't insured or Guranteed student loans - which means most all programs - are exempt from discharge in bankruptcy. Therefore, they will not be changed.
