Student Loan After Bankruptcy
Author: Peter Gitundu
It is a good thing to be well conversant with the laws governing bankruptcy. If you do, then you will know that student loans are among the debts that you can never get away with. If this is the case, what about getting access to a student loan after filing bankruptcy? To begin with, there are two types of such loans; private and government.
Government loans are much more flexible to access and this is for one reason; they are not necessarily based on your credit worth. In any case, the government has a responsibility to ensure that you get access to basic social amenities like education. The aim of the government is to make your life better regardless of your background.
Private student loan lenders on the other hand will require to know your credit standing before they can offer you anything. Again, private lenders will tend to charge you higher interest on your installments because they are in lending business.
One limitation with the government loan is that there is a certain limit to the amount you can get. If in case you decide to take the loan but feel it is not sufficient, you can consider other options. This may be tough but it calls for sacrifice. You can consider having part time classes and a part time job to supplement on the loan. Although it will take you a longer time to complete your studies, you will be able to rely on a loan that has a fixed interest rate and which you will comfortably be able to repay over the years.
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About the Author
Peter Gitundu Researches and Reports on Bankruptcy. For More Information On Loan After Bankruptcy, Read More Of His Articles Here LOAN AFTER BANKRUPTCYYou Can Also Add Your Views About Loan After Bankruptcy On His Blog Here LOAN AFTER BANKRUPTCY
Law questions please help?
Victor and other farmers in Washington County form a business organi¬zation to provide, without profit, an economic service to its members. This is
a business trust
a cooperative
a corporation
a joint stock company
Jack files a bankruptcy petition under Chapter 7. Among his debts are support owed to his ex-wife Kay, money borrowed from Loans, Inc., to pay taxes, and amounts representing student loans owed to Mega University. Debts most likely to be discharged include claims for
back taxes accruing within three years before a bankruptcy filing
certain fines and penalties payable to the government
domestic support
student loans if their payment imposes undue hardship on the debtor
If a student or anyone wants to file for bankruptcy, due to a loan/credit cards?
Is this correct, on how they start the process or not?
Do they just walk into their local court house and then ask for some papers to file? And how long until they are safe from debtors?
Will my student loan balance grow in a Chapter 13 bankruptcy?
We have a confirmed Ch 13. I would like to ask our attorney to file a motion to pay our student loan outside of the plan,instead of within the plan. Initially when we filed the plan, the attorney’s office file the loan as a priority claim. The trustee said no, it is unsecured. This means that Sallie Mae will get just a few dollars each month, not enough to cover our monthly payment or interest, but because it’s a student loan it will not be considered discharged when we complete our payment plan. The logic the courts have used is besides me on this one- it can’t be considered priority and non-dischargeable, but it should be considered unsecured with special status and is still non-dischargeable. It makes no sense for the debtor.
Will the interest continue to accrue on this loan while we are in our payment plan? It seems wrong, and goes against the whole point of the US bankruptcy protection code, to owe this debtor MORE after our bankruptcy discharge than we did going into the plan. Can we file to exclude this debt from our plan and pay it separately?
Can I pay off a creditor after the bankruptcy 341 meeting in order to keep something?
Help!!! We filed for bankruptcy and already had the 341 meeting. My mom has a camping timeshare that was almost paid off, and my name was on it. I knew that I was able to use the membership, but since she paid for it and I never signed anything I didn’t know that I was considered one of the debtors. We saw the charge on the petition, but it was from the same lender as one of my student loans so we just thought it was my student loan.
Now we just found out that it was included in the bankruptcy. The company has agreed to let us pay it off so that she could keep it. However, I know that if I were to pay one creditor before the 341 hearing that the trustee could force the company to split the money between the other creditors. Do you think that could happen now, since we are already past the 341 hearing?
Should you avoid being named a co-debtor in a family bankruptcy?
My in-laws are in the process of filing bankruptcy, and they are naming my husband and his sister as their co-debtors, because in the past the in-laws took out some student loans for both children in their own name. Will this affect my husband’s credit score? Will it affect our ability to buy a house? Will my personal assets be endangered because I am married to someone who is named a co-debtor in a bankruptcy?
Is your husband actually a co-signer on the student loans? It’s likely that he is and if so, he will be held responsible for the loans. The actual bankruptcy won’t impact his score. But he will have to pay off the loans.
If he co-signed those loans, they should already show on his credit report. If payment hasn’t been made, they would show as a negative on his credit.
If these are Private student loans, you probably don’t have many options.
If these are Federal student loans, you may have a number of options available. There is a Federal student loan website (ends in .gov) that explains what the various options are for Federal student loans.
Don’t file for bankruptcy if you can possibly avoid it. It will cause you some serious problems in your future (and present, even, if you lose your educational loans).
You most DEFINITELY need to discuss this with an attorney. If you never signed a note for the timeshare, you CAN’T be legally liable and the account should NOT be involved in your bankruptcy. Whatever the facts actually are, YOUR understanding of the facts is inaccurate. As such, it is not possible for you to post the information needed to give a correct answer.
1. a cooperative
2. back taxes within 3 years of filing for bankruptcy