0
You owe the loan.
The bankruptcy of who you gave it to makes no difference on who or what you owe your debts. (And if you owe the school money, you will be required to pay it too, and that money will be used to pay some of the debts of the BK school.)
It would seem you just made a bad, and possibly costly, choice of places to buy an education from.
What else can I help you with?
How hard is it to claim student loans on a chapter 7 bankruptcy?
I have been through Chapter 7 twice and both times was unable to claim my Student Loan.
Student loan co signers I filled chapter 7 bankruptcy in Michigan can my name be removed from the sallie Mae student loan that I co signed with my son under Michigan bankrutcy law?
Most student loans are not dischargeable under any chapter of Bankruptcy in Michigan.
What is the maximum personal loan that can be discharge in chapter 7?
Chapter 7 has no maximum loan amount.
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 you bankrupt a 25 year old student loan in a chapter 7?
If it is guaranteed federally or under any of those programs, no - they are not dischargeable in BK.
Which of the following that’s because possibly be forgiven under Chapter 7 bankruptcyalimony, a mortgage, a student loan, child support?
A mortgage(Apex)
What happens with your student loan if both you and your cosigner have bad credit?
If you are getting a Federal Student Loan credit is not an issues. I just got a Federal Student loan and my credit is BAD!!! The thing is, is that it's a Federal Loan so you will always owe that money, even if you claim chapter 7 or 13. I was worried about that too, but I got one just fine.
Is a loan that was taken out for school but is not considered a student loan dischargeable in a Chapter 7 bankruptcy?
Student loans are only non-dischargeable if they are funded by Federal or sometimes state monies. Some banks do act on behalf of government in lending Federally secured funds. You need to find the source of the funds that were lent, to know the status applied in a BK.
If you file chapter 7 bankruptcy does that eliminate paying back the parent plus college loan?
Student loans are exempt from bankruptcy as are IRS debts
Can you claim an equity loan on chapter 7?
No
Can a Parent Plus Loan be wiped out in chapter 7?
Student loans are no longer dischargeable in any chapter of bankruptcy unless you can prove that repaying the loan creates an undue hardship on you or your family. Prior law allowed their discharge once they had been in pay status for 7 years. The law changed in the fall of 1998. Proving hardship usually requires showing that you can't provide a minimum standard of living for yourself and your dependents if you have to repay the loan. Some courts will discharge part of the loan on a showing that repaying it all would be a hardship. Student loans are sometimes unenforceable due to school closures, fraud, etc. Chapter 13 can provide a way to cure defaults on student loans, or to pay them off over the course of the plan.
What are the terms of student loan forgiveness?
To go about getting a student loan forgiveness, I suggest talking to whoever runs the student loans at your university or college. Just try and get them to cut your student loan down a bit. Check out this website for more details: http://www.loansavers.org/qa-how-do-i-go-about-getting-forgiveness-for-my-student-loans-by-teaching-in-a-high-needs-school-2778.html
