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Is a loan that was taken out for school but is not considered a student loan dischargeable in a Chapter 7 bankruptcy?
Wiki User
∙ 8y ago
Student loans are only non-dischargeable if they are funded by Federal or sometimes state monies. Some banks do act on behalf of government in lending Federally secured funds. You need to find the source of the funds that were lent, to know the status applied in a BK.
Wiki User
∙ 8y ago
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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.
Can you include back child support payments in a chapter 7 bankruptcy?
No child and/or spousal support are not dischargeable in a chapter 7 BK. It is my understanding that child support, student loans, taxes owed, and things along that line cannot be included in a bankruptcy.
Can you put student loans on bankruptcy?
You must list student loans in your bankruptcy. They are not dischargeable, though collections actions are stayed by the automatic stay when the case is filed.
Can student loans be exempt from creditors?
Your outstanding student loans will not be exempt from creditors nor will they be dischargeable (absent exceptional circumstances) in a Chapter 7 or 13 bankruptcy proceeding. This is an important obligation that should be a priority you attend to because it will NOT go away.
Could the US government take the proceeds from the sale of you home if you have a judgment against you because of a student loan and you filed bankruptcy?
Yes. Federally funded student loans are not dischargeable in bankruptcy.
At what point in a Chapter 7 bankruptcy is it considered final with no new debts eligible for discharge?
When you file for Chapter 7 bankruptcy, you are responsible for listing all of your debts. Some debts are generally not dischargable (i.e. child support, most taxes, student loans, secured debts, etc.). When you receive a discharge for dischargeable debts, the discharge generally applies to debts listed in your bankruptcy filing and any subsequent amendments. The discharge does not apply to date incurred after you filed bankruptcy and generally does not apply to debts that you failed to list in the bankruptcy.
In specific detail with all criteria what is the 7 yr rule that replaced the 5yr rule in 1990 at it relates to federally guaranteed student loans and chapter 13 bankruptcy?
You are misinformed. Federally guaranteed student loans are not dischargeable. Period. There is no 7 year rule any more.
Are AES Student Loans Dischargeable under Chapter 7 Bankruptcy?
All federally backed student loans are, for practical purposes, NON-DISCHARGEABLE. I say practically because the only way it would be dischargeble is if there was no way you would be in a condition to pay the loan off. Court precedent basically allows discharge if, for example, you are paralyzed from the neck down, have MS, etc... (severe medical condition that incapacitates you)
Is paying off SallieMae college loan manadatory if you are filing for bankruptcy?
Student loans from any lender are not usually dischargeable in bankruptcy. They will temporarily stop collection during the proceedings, but interest will continue to accrue.
Can bankruptcy wipe out child support?
No. Child support and government backed student loans are 2 of the (not many) obligations that are not dischargeable in bankruptcy. Of course, getting rid of other debts you have should make these easier to pay.
If a cosigner files for bankruptcy does it put the primary signer under bankruptcy too?
No, the primary signer is still liable. But if a loan is not dischargeable, such as a student loan (actually is is extremely hard to discharge), both the primary and co-signer will STILL be liable after the bankruptcy
Can you bankrupt a 25 year old student loan in a chapter 7?
If it is guaranteed federally or under any of those programs, no - they are not dischargeable in BK.
