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Chapter 13 requires total unsecured debt of less than 335000 Is a Parent Plus student loan considered as a unsecured debt?
Wiki User
∙ 16y ago
Yes.
Wiki User
∙ 16y ago
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Why are student loans considered unsecured?
Lenders don't have any collateral to seize if the loan doesn't get paid back.
Can a student loan be considered a unsecured debt?
A student loan is an unsecured debt. To be secured, there needs to be something, generally phyisical (but not always), that can be taken (repossessed), and sold to satisfy the debt if it isn't paid. Kinda' hard to take back an education!
Your student loans are listed under Chapter 13 discharge papers with the full amount owed then the amount paid to them by the Trustee Does this mean it is settled for that amount or they are still owe?
Almost all student loans are not dischargeable unless the bankruptcy court has held a hearing on dischargeability and determined there is a hardship. In most jurisdictions, a student loan is treated like any unsecured credit claim and paid at the same rate as other unsecured claims, but the balance, including accrued interest, must be paid. Unless the bankruptcy court has determined, after a hearing, that the loans need not be repaid due to hardship, the balance due, including accrued interest, must be paid after the Chapter 13. For the Chapter 13 Plan, student loans are treated as unsecured credit claims and must be paid at the same rate as the other unsecured claims in the Plan. Except in the case of a 100% plan, there will be a balance due after the 13.
How can you get your student loan to not be shown as included in bankruptcy since you are paying on it?
You must list all debt owed in a bankruptcy. In a Chapter 7 Bankruptcy federal student loans are listed on Schedule F as a unsecured non-priority debt with an indication that they are student loans. Please note that nothing in this posting or in any other posting constitutes legal advice.
Who is the winner of 2009 students of petroleum engineers outstanding student chapter for the Asia pacific region?
SPE-UTM Student Chapter is the winner of 2009 SPE Outstanding Student Chapter (OSC) for the Asia Pasific Region
What happens to federal student loans during chapter 13 bankruptcy?
The answer differs from one bankruptcy jurisdiction to another, so discuss it with your bankruptcy attorney.In general, student loans are unsecured loans and have to be treated as all unsecured creditors in a plan. The student loan lender cannot use its collection/garnishment powers until the case is over.That means you may be paying the student loan lender nothing or up to full payment over the life of the plan. Few people can pay student loans off completely in 5 years or less, so interest will accumulate. When the plan ends, you will owe a lot more.In some jurisdictions, it is possible to place student loans in a separate class and treat them differently in a plan, or pay them outside the plan as a monthly expense in Schedule J.
As a student what is your philosophy in life?
Every student requires a true guide who must be compassionate to the weaknesses of the student.
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.
I filed bankrupty under Chapter 13. My student loan is included in the Chapter 13 and I am paying on it. Can I still apply for another student loan?
Only if you have the courts permission
When does Luna first appear?
chapter 78. she is a new transfer student.
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.
How many people does karate need?
Two, it requires a teacher and a student.
