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can you have studnet loans forgiven?
Yes, both government and private loan companies have student loan forgiveness programs. You must meet their requirements in order to be eligible for them which includes but is not limited to military service, volunteer work, or any other task specified in the particular Student Loan Forgiveness Program you are applying for.
What Are Your Options Regarding Student Loan Debt Forgiveness?
Millions of Americans are dealing with student loan debt. For most, that debt will linger with them for several years or decades. Although the average student loan debt is somewhere around $25,000, many students face debts of up to $100,000 or more. Is there any way to have your student loans forgiven?Don't Look To Bankruptcy CourtBankruptcy court is not going to be an option for you if you want to have your student loans forgiven or discharged. This is because recent changes to bankruptcy laws have made it almost impossible to get rid of student loan debt. Therefore, you need to talk to your lender about possible loan forgiveness.Will Lenders Forgive Your Loans?As a general rule, many private lenders will not discuss forgiving your student loan debt. However, they may be willing to create a custom payment plan that allows you to make payments each month without ruining your budget. The good news is that you may be able to have portions of your federal loans forgiven in some instances.How To Get Federal Loans ForgivenFederal student loans are often times forgiven for those in the education field as well as in the health care field. Military service may also result in having your student loan debt partially forgiven. Another way to get your student loans forgiven is to enroll in an income based repayment plan. If you make payments for 20 years, the remaining debt is forgiven. While you are repaying the loan, you are only asked to pay roughly 10 percent of your discretionary income.Student loan debt can be a crippling burden if you don't take steps to control your monthly payments. The best idea is to create a repayment plan before you accept your first loan. However, if your student loan debt gets away from you, there are options designed to help you deal with that debt.
How long can a bank require you to pay on a delinquent loan?
Until it's paid off, or you declare bankruptcy and have the debt forgiven.
Can you forget a debt a debt or have a debt forgiven and not have it hurt your credit?
When a debt is forgiven (a forgetadebt as you call it), it will be reported to the credit bureaus. But you will have less debt, which is a positive.
My sister who had a loan with my parents feels that it is forgiven since they both died. Is the loan now transferred to the brothers and sisters that are equal trustees or is it forgiven?
The debt is owed to the estate. The executor has a duty to collect it. The money can be credited toward her share of the estate if there is enough to cover it.
How can I have my debts forgiven in the United Kingdom?
I can get my loan forgiven in United Kingdom with Money Advice Service. People who are troubled by debt. With the help of Money Advice Service, your entire loan can be waived off. For more information contact us toll free no 03338803165...
How can I determine if my student loan has been forgiven?
To determine if your student loan has been forgiven, you should contact your loan servicer or the Department of Education. They can provide you with information on the status of your loan forgiveness application and confirm if your loan has been forgiven.
If a parent dies with unpaid student loans does the child inherit the debt?
No! Probate Court or the student loan provider may look to some of the asets that your parent may have left behind to satisfy the student loan. But you cannot be made personally liable for your parent's studnet loans unless you co-signed for them.
If your car is repossessed in Arizona can they collect any deficiency or is the debt forgiven when they take possession?
The debt is NOT forgiven. See link below. ArizonaRevisedStatutes
How can I have my student loan forgiven?
One can have a student loan forgiven if one has no money at all to pay or if one joins a program called student loan which basically pays every penny of ones loan.
Is a 1099 a considered debt forgiven?
If a debt is "forgiven," it is income to the debtor, and a 1099 is issued by the mortgagee or the creditor. You may not have to pay it, even if you don't file bankruptcy, if the debt was a mortgage on your residence.
Benefits of the Student Loan Forgiveness Act?
If you accumulated student loan debt while you were in college, it is important to research the stipulations of the Student Loan Forgiveness Act. This piece of legislation was designed to reduce the load of debt repayment in some situations. The Student Loan Forgiveness Act provides for Income-Based Repayment. This benefit can help if you are a low-income household. The Act also provides for debt to be forgiven in some situations after a certain time period has passed.
