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How do you bankrupt your student loans?

Updated: 9/11/2023
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Ckstewarsbcglobalnet

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9y ago

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Student loans do not qualify for bankruptcy except in certain dire situations.

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9y ago
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Q: How do you bankrupt your student loans?
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Are you able to apply for a student loan if you are bankrupt?

In the US, yes. Federally guaranteed student loans are not given out based on credit or employment.


Will bankruptcy remove your private student loans?

No, that is the only loan that will not be removed when you become bankrupt or if you pass away.


If a school goes bankrupt (college) while I am still registered do I still owe the student loans What is the best way to cut late fees and penalties from student loans?

There is the Weston Paxxon Senior Rehab Services which is one of the best in the Brooklyn, NY area.


Can you bankrupt an Unsubsidized student loan?

In theory yes- student loans can be discharged. In practice- it is extremely rare. The only examples i have seen where a student loan is discharged is when the borrower is paralyzed, have a severe neurological disorder, or has been diagnosed with an end stage illness and are therefore unable to work. A discharge of student loans is so rare that most attorneys flat out tell potential clients that student loans are not dischargeable. I'm not sure what you mean by "unsubsidized" - I know what it means - I'm not sure you do! A government backed (that doesn't mean subsidized) student loan cannot be discharged in bankruptcy. If it isn't government backed, it is simply a personal loan you used to pay for education and may be discharged like any other. Additionally, you do not bankrupt "a loan"...you go bankrupt - it includes all things you own and owe. Nothing is excluded. Some things may not be discharged.


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.


Can you bankrupt your student loans if you have had a previous bankruptcy within the past 4 years?

I didn't get your question. Are you trying to ask if you can able to file bankruptcy again even though you had filed previously one? As far as i know, Student loans won't discharge in bankruptcy. It's better consult this from the bankruptcy advisers.


Can I bankrupt student loans that are in collections?

Government insured student loans are exempt from the Bk process. They must be paid. This is not true. Student Loans can be bankrupt. You must prove that you are unable to pay the loan ( living below or at the poverty guidelines). You must prove undue hardship ( Congress hasn't given a true definition of this, so courts are making their own decisions based on your presentation). You must prove good faith efforts ( this means you have been attempting to make payments, but to make the payments is causing you to live below the poverty guidelines). You can also try to negotiate your loans with the Department of Education. For example, you pay 10 cents on the dollar ( $50,000 loans deminished to $ 5,000) over a 5 year period. There are other ways to get loans reduced.


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.


Can private student loans be consolidated with federal student loans?

Sometimes private student loans can be consolidated depending on certain factors including the rules of your lender, whether you are in deferrment or default and your credit score. You cannot however, consolidate federal student loans and private student loans together.


What kind of agency is The Student Loan People?

The Student Loan People is an agency that specializes in student loans. They are located in Kentucky. They work with people getting student loans, collections and repayments of student loans.


Are all student loans federal loans?

No, private lending institutions (such as banks) also give out student loans.