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Your outstanding student loans will not be exempt from creditors nor will they be dischargeable (absent exceptional circumstances) in a Chapter 7 or 13 bankruptcy proceeding. This is an important obligation that should be a priority you attend to because it will NOT go away.

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15y ago

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Related Questions

Can you place educational loans on bankruptcy?

Student loans are exempt from discharge because too many others had the same idea.


Will private student loan companies go after a cosigner if you file for bankruptcy?

Gov't backed student loans are exempt from BKruptcy....they will come after you thru tax refunds or garnishment.


Can a student loan refund in a bank account be seized for failure to pay child support?

I believe it can. Student loans and other funds that are usually exempt from seizure are NOT exempt when it comes to things like child support or taxes. But you should consult a lawyer to make sure.


Can a VA disability pension be garnished for a student loan.?

Your VA disability to my knowledge is untouchable to all creditors, to include child support, and student loans. Your student loans will affect your credit report negatively until it is in good standing. It will never go away or default. You can not claim it on a bankruptcy either.


If you file chapter 7 bankruptcy does that eliminate paying back the parent plus college loan?

Student loans are exempt from bankruptcy as are IRS debts


Are student loans forgiven if you receive SSI?

No, but SSI isn't exempt from garnishment for student loans. In some instances federally funded student loans can be forgiven if the borrower becomes mentally and/or physically impaired to the point where he or she will never have sufficient ability to work and if a doctor will sign off on the disability. Edit: SSI CAN be garnished for federal student loans. This was part of the Debt Collection Improvement Act of 1996. Edited wording for total and permanent disability qualifications.


As of January 2007 is Texas still exempt from wage garnishment?

Rules for each State athttp://www.bcsalliance.com/y_debt_statelaws_garnishments.htmlNote: Many things ARE NOT EXEMPT anywhere - like child support, student loans, alimony, taxes and more.


If you have outstanding student loans and die is the estate charged for the student loans?

Actually, that's not true - student loans are forgiven when the student dies.


If you receive ssd and some income can creditors garnish wages?

In most cases NO. However, student loans, child support and taxes payments aren't exempted from granishment.


What is the definition of debtors and creditors?

Debtors are people who owe money to creditors. Creditors are people who are owed money by debtors. For example, the bank is a creditor allowing people to take out loans and the people taking out the loans are the debtors.


Are student loans forgiven after age 60?

Are student loans forgiven at age 60? Are student loans forgiven at age 60?


What company provides direct student loans?

There are only a few companies that provide direct student loans. You can go to a bank and get student loans from there, or you can get Federal Loans from your school.