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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. Otherwise there are options to research into getting your loan payments postponed and/or deferred.
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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.
Can student loan be canceled after you reach a certain age?
Under certain circumstances a loan may be forgiven by the lender, but age has nothing to do with it.
Does a perkins loan get forgiven in a bankruptcy?
List all of your loans and debts. They are all covered in your bankruptcy.
If a second mortgage is forgiven by the private lender are there tax or income implications?
Yes. And it does not matter that the lender is a private lender. If a debt is forgiven the borrower has in effect received money or something of value without having to pay the money back. Proceeds of a loan are not consider income unless the loan is not paid back. It is like the lender paid you an income or gave you a gift. A loan from a private lender that was secured by a second mortgage and later forgiven can be a sign of mortgage fraud. The 'technique' is sometimes used to obtain a loan from a conventional lender (the 1st mortgage loan) where the 1st loan could not be obtained if the lender's underwriter was told the 2nd was going to be forgiven. Documentation in the public record of a possible fraud. Maybe not that likely to be noticed but no less illegal.
Do you have to repay a federal student loan?
Everyone has to repay the federal student loans. However some people are eligible, dependent on the job that they get after graduation, to have loan forgiveness for a portion of their loan. In that case they will only have to repay the portion of the loan that is not forgiven.
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.
Can you get a student loan forgiven if you can't pay?
no
My brother wants to borrow 150K from me. Is my brother or I obligated to pay taxes to Uncle Sam?
A loan is not a taxable transaction. If the loan is forgiven, the brother would have to pay income tax on the forgiven amount.
Can student loan be canceled after you reach a certain age?
Under certain circumstances a loan may be forgiven by the lender, but age has nothing to do with it.
What is cut -off mark of unn for mechanical engineering in2009 ume?
can astudent with 202 score study medicine can astudent with 202 score study medicine
You want dedication examples for astudent project?
yes
Does a perkins loan get forgiven in a bankruptcy?
List all of your loans and debts. They are all covered in your bankruptcy.
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...
If a second mortgage is forgiven by the private lender are there tax or income implications?
Yes. And it does not matter that the lender is a private lender. If a debt is forgiven the borrower has in effect received money or something of value without having to pay the money back. Proceeds of a loan are not consider income unless the loan is not paid back. It is like the lender paid you an income or gave you a gift. A loan from a private lender that was secured by a second mortgage and later forgiven can be a sign of mortgage fraud. The 'technique' is sometimes used to obtain a loan from a conventional lender (the 1st mortgage loan) where the 1st loan could not be obtained if the lender's underwriter was told the 2nd was going to be forgiven. Documentation in the public record of a possible fraud. Maybe not that likely to be noticed but no less illegal.
What happens to a loan if the seller dies?
If a seller dies, a loan might still be owed by the family of the person that died. In some cases, the loan would be forgiven if the seller died or passed away.
Do you have to repay a federal student loan?
Everyone has to repay the federal student loans. However some people are eligible, dependent on the job that they get after graduation, to have loan forgiveness for a portion of their loan. In that case they will only have to repay the portion of the loan that is not forgiven.
