Kyla: Student loans have no statute of limitations like other loans do, so they can basically stay on your credit report forever, And they can not even be included in bankruptcy because a judge has to conclude that you have extreme hardship to even consider your situation, and extreme hardship is VERY HARD to demonstrate. I'm sorry to tell you Kyla but The laws on unpaid student loans are very severe and the common practice these days is if you dont pay, they may start garnishing your wages without even taking you to court until the debt is paid, something that I think is a violation of your rights! I wish you good luck with your situation though! Regards, Alex. --------- Credit cards, loans, Free credit repair: http://www.creditinsiders.com
Check out www.nolo.com THere is a book on dealing with student loans and helpful information. Good luck C.R.
it is illegal for a person wh anticipates bankruptcy to take out a personal loan, get a cash advance from credit cards, etc. to pay off the student loan before going bankrupt but it has been done. the banks who get screwed don't have much recourse most of the time.
It will probably fall off your credit reports, but you won't get out of paying the debt. Even if it does disappear from your credit reports, it can be re-reported indefinately.
The previous stuff is all true unless you either satisfy the debt or enter into a repayment plan in which the original derogatory information may remain for 7 years or so. Is the defaulted student loan still in default or have you made some type of arrangements?
There are instances when student loans can be discharged in bankruptcy. Check with a BK attorney, but I believe loans that are over ten years old can be discharged....keep in mind that the hardship, as previously mentioned, has to be there. If the amount is too large to pay off at once I'd start right away getting it into repayment. Until you do your tax refunds will be seized and you can forget getting a mortgage.
My ex-husband and I filed for bankruptcy in 1996. My student loan was placed in the bankruptcy against my wishes. The attorney handling the case stated that everything we had had to be filed on. I had been paying on my student loan for several years and he stated that it qualified. That was in 1996. Earlier this year I received a letter from Sallie Mae (whom my loan was with) telling me that I was behind on my payments. I was baffled by this and after numerous phone calls I was told that student loans could not be charged off and the only reason that I was just now getting a letter was because the loan had been listed with the bankruptcy and as long as it was listed they could not contact me. I was really upset about this because #1 I didn't want it in the bankruptcy to begin with #2 it continued to accrue interest all that time and I was not aware of it. I had the loan paid down to about $3500 and now it is almost $7000!!!!!! I have tried contacting the attorney and trustee that handled this case and have found out that the attorney is serving time for fraud and the trustee is nowhere to be found. I am still fighting with Sallie Mae over this. The person that I spoke to in the bankruptcy department told me that she would send me the necessary paperwork to file for a forebarence until we could figure out what was going on but I have yet to receive it but now I am getting letters stating that my loan will soon go into default. Does anyone have any suggestions?
My ex-husband and I filed for bankruptcy in 1996. My student loan was placed in the bankruptcy against my wishes. The attorney handling the case stated that everything we had had to be filed on. I had been paying on my student loan for several years and he stated that it qualified. That was in 1996. Earlier this year I received a letter from Sallie Mae (whom my loan was with) telling me that I was behind on my payments. I was baffled by this and after numerous phone calls I was told that student loans could not be charged off and the only reason that I was just now getting a letter was because the loan had been listed with the bankruptcy and as long as it was listed they could not contact me. I was really upset about this because #1 I didn't want it in the bankruptcy to begin with #2 it continued to accrue interest all that time and I was not aware of it. I had the loan paid down to about $3500 and now it is almost $7000!!!!!! I have tried contacting the attorney and trustee that handled this case and have found out that the attorney is serving time for fraud and the trustee is nowhere to be found. I am still fighting with Sallie Mae over this. The person that I spoke to in the bankruptcy department told me that she would send me the necessary paperwork to file for a forebarence until we could figure out what was going on but I have yet to receive it but now I am getting letters stating that my loan will soon go into default. Does anyone have any suggestions?
My ex-husband and I filed for bankruptcy in 1996. My student loan was placed in the bankruptcy against my wishes. The attorney handling the case stated that everything we had had to be filed on. I had been paying on my student loan for several years and he stated that it qualified. That was in 1996. Earlier this year I received a letter from Sallie Mae (whom my loan was with) telling me that I was behind on my payments. I was baffled by this and after numerous phone calls I was told that student loans could not be charged off and the only reason that I was just now getting a letter was because the loan had been listed with the bankruptcy and as long as it was listed they could not contact me. I was really upset about this because #1 I didn't want it in the bankruptcy to begin with #2 it continued to accrue interest all that time and I was not aware of it. I had the loan paid down to about $3500 and now it is almost $7000!!!!!! I have tried contacting the attorney and trustee that handled this case and have found out that the attorney is serving time for fraud and the trustee is nowhere to be found. I am still fighting with Sallie Mae over this. The person that I spoke to in the bankruptcy department told me that she would send me the necessary paperwork to file for a forebarence until we could figure out what was going on but I have yet to receive it but now I am getting letters stating that my loan will soon go into default. Does anyone have any suggestions?
My ex-husband and I filed for bankruptcy in 1996. My student loan was placed in the bankruptcy against my wishes. The attorney handling the case stated that everything we had had to be filed on. I had been paying on my student loan for several years and he stated that it qualified. That was in 1996. Earlier this year I received a letter from Sallie Mae (whom my loan was with) telling me that I was behind on my payments. I was baffled by this and after numerous phone calls I was told that student loans could not be charged off and the only reason that I was just now getting a letter was because the loan had been listed with the bankruptcy and as long as it was listed they could not contact me. I was really upset about this because #1 I didn't want it in the bankruptcy to begin with #2 it continued to accrue interest all that time and I was not aware of it. I had the loan paid down to about $3500 and now it is almost $7000!!!!!! I have tried contacting the attorney and trustee that handled this case and have found out that the attorney is serving time for fraud and the trustee is nowhere to be found. I am still fighting with Sallie Mae over this. The person that I spoke to in the bankruptcy department told me that she would send me the necessary paperwork to file for a forebarence until we could figure out what was going on but I have yet to receive it but now I am getting letters stating that my loan will soon go into default. Does anyone have any suggestions?
My ex-husband and I filed for bankruptcy in 1996. My student loan was placed in the bankruptcy against my wishes. The attorney handling the case stated that everything we had had to be filed on. I had been paying on my student loan for several years and he stated that it qualified. That was in 1996. Earlier this year I received a letter from Sallie Mae (whom my loan was with) telling me that I was behind on my payments. I was baffled by this and after numerous phone calls I was told that student loans could not be charged off and the only reason that I was just now getting a letter was because the loan had been listed with the bankruptcy and as long as it was listed they could not contact me. I was really upset about this because #1 I didn't want it in the bankruptcy to begin with #2 it continued to accrue interest all that time and I was not aware of it. I had the loan paid down to about $3500 and now it is almost $7000!!!!!! I have tried contacting the attorney and trustee that handled this case and have found out that the attorney is serving time for fraud and the trustee is nowhere to be found. I am still fighting with Sallie Mae over this. The person that I spoke to in the bankruptcy department told me that she would send me the necessary paperwork to file for a forebarence until we could figure out what was going on but I have yet to receive it but now I am getting letters stating that my loan will soon go into default. Does anyone have any suggestions?
My ex-husband and I filed for bankruptcy in 1996. My student loan was placed in the bankruptcy against my wishes. The attorney handling the case stated that everything we had had to be filed on. I had been paying on my student loan for several years and he stated that it qualified. That was in 1996. Earlier this year I received a letter from Sallie Mae (whom my loan was with) telling me that I was behind on my payments. I was baffled by this and after numerous phone calls I was told that student loans could not be charged off and the only reason that I was just now getting a letter was because the loan had been listed with the bankruptcy and as long as it was listed they could not contact me. I was really upset about this because #1 I didn't want it in the bankruptcy to begin with #2 it continued to accrue interest all that time and I was not aware of it. I had the loan paid down to about $3500 and now it is almost $7000!!!!!! I have tried contacting the attorney and trustee that handled this case and have found out that the attorney is serving time for fraud and the trustee is nowhere to be found. I am still fighting with Sallie Mae over this. The person that I spoke to in the bankruptcy department told me that she would send me the necessary paperwork to file for a forebarence until we could figure out what was going on but I have yet to receive it but now I am getting letters stating that my loan will soon go into default. Does anyone have any suggestions?
My ex-husband and I filed for bankruptcy in 1996. My student loan was placed in the bankruptcy against my wishes. The attorney handling the case stated that everything we had had to be filed on. I had been paying on my student loan for several years and he stated that it qualified. That was in 1996. Earlier this year I received a letter from Sallie Mae (whom my loan was with) telling me that I was behind on my payments. I was baffled by this and after numerous phone calls I was told that student loans could not be charged off and the only reason that I was just now getting a letter was because the loan had been listed with the bankruptcy and as long as it was listed they could not contact me. I was really upset about this because #1 I didn't want it in the bankruptcy to begin with #2 it continued to accrue interest all that time and I was not aware of it. I had the loan paid down to about $3500 and now it is almost $7000!!!!!! I have tried contacting the attorney and trustee that handled this case and have found out that the attorney is serving time for fraud and the trustee is nowhere to be found. I am still fighting with Sallie Mae over this. The person that I spoke to in the bankruptcy department told me that she would send me the necessary paperwork to file for a forebarence until we could figure out what was going on but I have yet to receive it but now I am getting letters stating that my loan will soon go into default. Does anyone have any suggestions?
My ex-husband and I filed for bankruptcy in 1996. My student loan was placed in the bankruptcy against my wishes. The attorney handling the case stated that everything we had had to be filed on. I had been paying on my student loan for several years and he stated that it qualified. That was in 1996. Earlier this year I received a letter from Sallie Mae (whom my loan was with) telling me that I was behind on my payments. I was baffled by this and after numerous phone calls I was told that student loans could not be charged off and the only reason that I was just now getting a letter was because the loan had been listed with the bankruptcy and as long as it was listed they could not contact me. I was really upset about this because #1 I didn't want it in the bankruptcy to begin with #2 it continued to accrue interest all that time and I was not aware of it. I had the loan paid down to about $3500 and now it is almost $7000!!!!!! I have tried contacting the attorney and trustee that handled this case and have found out that the attorney is serving time for fraud and the trustee is nowhere to be found. I am still fighting with Sallie Mae over this. The person that I spoke to in the bankruptcy department told me that she would send me the necessary paperwork to file for a forebarence until we could figure out what was going on but I have yet to receive it but now I am getting letters stating that my loan will soon go into default. Does anyone have any suggestions?
My ex-husband and I filed for bankruptcy in 1996. My student loan was placed in the bankruptcy against my wishes. The attorney handling the case stated that everything we had had to be filed on. I had been paying on my student loan for several years and he stated that it qualified. That was in 1996. Earlier this year I received a letter from Sallie Mae (whom my loan was with) telling me that I was behind on my payments. I was baffled by this and after numerous phone calls I was told that student loans could not be charged off and the only reason that I was just now getting a letter was because the loan had been listed with the bankruptcy and as long as it was listed they could not contact me. I was really upset about this because #1 I didn't want it in the bankruptcy to begin with #2 it continued to accrue interest all that time and I was not aware of it. I had the loan paid down to about $3500 and now it is almost $7000!!!!!! I have tried contacting the attorney and trustee that handled this case and have found out that the attorney is serving time for fraud and the trustee is nowhere to be found. I am still fighting with Sallie Mae over this. The person that I spoke to in the bankruptcy department told me that she would send me the necessary paperwork to file for a forebarence until we could figure out what was going on but I have yet to receive it but now I am getting letters stating that my loan will soon go into default. Does anyone have any suggestions?
My ex-husband and I filed for bankruptcy in 1996. My student loan was placed in the bankruptcy against my wishes. The attorney handling the case stated that everything we had had to be filed on. I had been paying on my student loan for several years and he stated that it qualified. That was in 1996. Earlier this year I received a letter from Sallie Mae (whom my loan was with) telling me that I was behind on my payments. I was baffled by this and after numerous phone calls I was told that student loans could not be charged off and the only reason that I was just now getting a letter was because the loan had been listed with the bankruptcy and as long as it was listed they could not contact me. I was really upset about this because #1 I didn't want it in the bankruptcy to begin with #2 it continued to accrue interest all that time and I was not aware of it. I had the loan paid down to about $3500 and now it is almost $7000!!!!!! I have tried contacting the attorney and trustee that handled this case and have found out that the attorney is serving time for fraud and the trustee is nowhere to be found. I am still fighting with Sallie Mae over this. The person that I spoke to in the bankruptcy department told me that she would send me the necessary paperwork to file for a forebarence until we could figure out what was going on but I have yet to receive it but now I am getting letters stating that my loan will soon go into default. Does anyone have any suggestions?
My ex-husband and I filed for bankruptcy in 1996. My student loan was placed in the bankruptcy against my wishes. The attorney handling the case stated that everything we had had to be filed on. I had been paying on my student loan for several years and he stated that it qualified. That was in 1996. Earlier this year I received a letter from Sallie Mae (whom my loan was with) telling me that I was behind on my payments. I was baffled by this and after numerous phone calls I was told that student loans could not be charged off and the only reason that I was just now getting a letter was because the loan had been listed with the bankruptcy and as long as it was listed they could not contact me. I was really upset about this because #1 I didn't want it in the bankruptcy to begin with #2 it continued to accrue interest all that time and I was not aware of it. I had the loan paid down to about $3500 and now it is almost $7000!!!!!! I have tried contacting the attorney and trustee that handled this case and have found out that the attorney is serving time for fraud and the trustee is nowhere to be found. I am still fighting with Sallie Mae over this. The person that I spoke to in the bankruptcy department told me that she would send me the necessary paperwork to file for a forebarence until we could figure out what was going on but I have yet to receive it but now I am getting letters stating that my loan will soon go into default. Does anyone have any suggestions?
My ex-husband and I filed for bankruptcy in 1996. My student loan was placed in the bankruptcy against my wishes. The attorney handling the case stated that everything we had had to be filed on. I had been paying on my student loan for several years and he stated that it qualified. That was in 1996. Earlier this year I received a letter from Sallie Mae (whom my loan was with) telling me that I was behind on my payments. I was baffled by this and after numerous phone calls I was told that student loans could not be charged off and the only reason that I was just now getting a letter was because the loan had been listed with the bankruptcy and as long as it was listed they could not contact me. I was really upset about this because #1 I didn't want it in the bankruptcy to begin with #2 it continued to accrue interest all that time and I was not aware of it. I had the loan paid down to about $3500 and now it is almost $7000!!!!!! I have tried contacting the attorney and trustee that handled this case and have found out that the attorney is serving time for fraud and the trustee is nowhere to be found. I am still fighting with Sallie Mae over this. The person that I spoke to in the bankruptcy department told me that she would send me the necessary paperwork to file for a forebarence until we could figure out what was going on but I have yet to receive it but now I am getting letters stating that my loan will soon go into default. Does anyone have any suggestions?