Can you include student loan in BK? I had a student loan which I have included in my BK, but until now, They still try to collect them, even they have been included in BK. Advice? Thks!!
Student loans cannot be included in bk unless they were before a certain year. 1988? 1984? I can't remember. This may be considered fraud, but I know of people who have used a credit card to pay the student loan, paid minimum on the card for 8 - 12 months, then filed bk. No one could prove they planned on filing at the time they paid the SL. If a cc convenience check was used to deposit money into your checking account, then you wrote a personal check to pay the SL, that would probably work too.
Here's a web page with more info. http://www.creditinfocenter.com/bankruptcy/StudentLoanBKDebts.shtml
They're not dischargeable, have you consolidated before? If you haven't congratulations. I'm one of the few LUCKY ones that consolidated at 9% and am now screwed by 2 crappy laws. 1st - Up until 6 years ago they were dischargeable and now they're not. PERIOD. Not even they're interest. 2nd - If you consolidate once you can't consolidate again. I'm locked at 9% while new graduates today are locking as low as 1.65%. I'm just wondering what law is going to come along and kick me in the sack next.....
No. I didnt consolidate. I dont even bother to do that because I know I cant afford it. I wont be filling BK if I can still pay my debts. My next question is that now the student loan is with collection agency. By placing them on collection agency, they added 25% to 35% on top of what I cant afford to pay. What can I do to get out of the 25% collection fees? I probably can pay like 200-300/month now since i got a better job than before. Any suggestions?
