I believe that student loans are a category of debt that is not dischargable in bankruptcy. The bankruptcy will show up on any credit reports, and you may subsequently be unable to et additional loans. I filed for bankrupcy in 1998. I was able to obtain Student Loans despite the bankruptcy in 1999-2000. My past credit history was not considered when determining my student loan application.
No. Educational loans will remain with your during and after the bankruptcy is completed. This holds true regardless of whether you decide to file for Chapter 7 or Chapter 13 bankruptcy.
Student loans are exempt from bankruptcy as are IRS debts
He had a college deferment.
A chapter 7 bankruptcy is the nuclear bomb of debt clearing. It will however, not get rid of certain taxes, preference payments, college loans, and other not dischargeable debts.
Going to college was the most honorable way (college deferment).
In most cases, you can not include an educational loan in a chapter 7 bankruptcy. This Person is wrong! The college network sells study materials. It is not an "Educational Loan" It is a private company. Yes you can discharge them like any other debt!
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.
Yes. Discrimination against a person for having filed for bankruptcy is prohibited especially for student loan applications.
No. Military deferments were given, but they were harder to get.
Vietnam was America's last drafting of young men for the military. And we still had "authorized" ways of buying one's self out of that. If a fellow stayed in college, carried 18 units and a 2.0 average, he recieved a "college deferment." If one was too poor to go or didn't go to college, then obviously he could't recieve a "college deferment", and the army would be sending him a letter.
You still have to pay them. They give you 6 months of payment deferment I believe. After that the interest starts accumulating.
Yes, for Chapter 13 cases. No allowance in the monthly budget is made by the Bankruptcy Trustee for financial contributions by parents for the college education of dependents. Eligibility for financial aid is still calculated on the income of bankrupt parents, although they do not have the ability to contribute. The only relief is that students may take out additional unsubsidized Stafford loans.