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What else can I help you with?
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.
Can you place educational loans on bankruptcy?
Student loans are exempt from discharge because too many others had the same idea.
Can you file an adversary proceeding for a discharge of your student loans if you filed bankruptcy 6 years ago?
It's my understanding that student loans are not discharged by bankruptcy any longer. YOu should check this, though
How can you discharge your student loans?
The only way to get out from under a student loan is to pay it off. You can go to the Department of Education web site for more information
What happens to a person who does not repay student loans?
Federal student loans have no statute of limitation, meaning they can collect forever. The can garnish your wages without taking you to court, take your tax refund, and sue you in court for property and bank accounts. Student loans are also almost impossible to discharge in bankruptcy. There are people now who did not repay their student loans from the 1970s who are having their social security garnished. Not paying is a very bad idea.
What is the likely impact of filing bankruptcy on a student loan?
Filing for bankruptcy typically does not discharge student loans, as they are generally considered non-dischargeable debts under federal law. While bankruptcy may provide relief from other debts, a borrower may still be responsible for repaying their student loans. In some cases, borrowers can seek a hardship discharge, but this is challenging to obtain. Overall, bankruptcy can have long-lasting effects on credit and financial stability, making it a less favorable option for dealing with student loans.
Discharge fines and interest from a defaulted student loan?
In the USA, you can't discharge penalties and interest on Federally Guaranteed student loans. If you need help getting out of default and getting off of the tax offset list, click on my profile, StudentLoaner, below.
Why are student loans considered in secured?
Student loans are considered unsecured because they are not backed by collateral, such as property or assets, which lenders can seize if the borrower defaults. Instead, these loans are based on the borrower's creditworthiness and promise to repay. This lack of security means that lenders face a higher risk, which can result in higher interest rates compared to secured loans. Additionally, in the case of bankruptcy, student loans are often difficult to discharge, further complicating the borrower's financial situation.
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.
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.
Can student loans be discharged in a bankruptsy because of hardships?
Yes, there is a very SMALL possibility that student loans can be discharged in a bankruptcy proceeding and you are correct to say that the reason would be with a very compelling showing of hardship. That being said, this is very uncommon and student loans are typcially classified in a category of nondischargeable debt. A law was passed in 1998 that has made it even more difficult to discharge a student loan in bankruptcy. It is incredibly difficult to discharge a loan in this way, and the only approach is to convince a court that repaying the loan would create a severe hardship for you.
Are student loans forgiven after age 60?
Are student loans forgiven at age 60? Are student loans forgiven at age 60?
