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What if your student loan was in bankruptcy and then the student loan comes back and say you owe them?
Although bankruptcy is a genuine path to get out of debt, it leaves a long lasting scar, and comes at a high price financially and emotionally. The financial impact is severe; a bankruptcy will stay on your credit report for 7-10 years. You shouldn't consider bankruptcy as a simple "quick fix" to all of your financial difficulties, but rather as one of the many available solutions you may have given your individual situation. In October 2005, new congressional legislation made filing for bankruptcy more difficult and burdensome. A Chapter 13 bankruptcy could result in higher monthly payments and may last longer than an alternative debt resolution program. If you have questions about bankruptcy or are considering it as an option, we advise you to speak directly to an experienced bankruptcy attorney licensed in your state.
What else can I help you with?
What is meant by student loan bankruptcy?
Student loan bankruptcy happens when a student has not been a student for the last 7 years and declares bankruptcy. For more information please contact a student loan office.
Student loan after bankruptcy?
You pay it.
Can you file bankruptcy for your student loans and keep your house out of it?
If the student loan is a federal loan and not a private loan then the answer is no. Federal student loans can not be included in bankruptcy, you will always be responsible for repayment of FEDERAL student loans.
Can I get a student loan after filing chap.7 bankruptcy?
yes, you are eligible, but be careful not to get back into debt.
An you get a student loan after bankruptcy?
In the US, yes
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 apply for a student loan after a filing for bankruptcy?
Only if the bankruptcy is currently discharged.
Will bankruptcy remove government loan debt?
Student loans, no. A SBA type loan...probably
Does a student loan need to be repaid after a school declares bankruptcy?
Yes.
Can you file bankruptcy on Sally Mae student loan?
No. Under no bankruptcy scheme will student loan obligations be dischargeable. Rather, they will remain with you until they are paid off and just because you have filed for bankruptcy does not mean that the loan interest rates will stop either. This is a debt you should attend to as soon as you can and if it is a major reason for your filing for bankruptcy then I urge you to reconsider and speak with an attorney first.
Can my wages be garnished by the student loans while i am in a chapter 13 bankruptcy?
If your bankruptcy is currently active, collection efforts on the student loan will cease until the bankruptcy inactive at which point collection activities will start again.
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.
