Update on Bankruptcy RUDE PEOPLE

Updated on January 21, 2008
M.B. asks from Schenectady, NY
28 answers

Some People are just so rude and mean... if you cant say something nice dont say anything at all..i have NEVER once left a mean responce to someone on here

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thanks for all the information

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answers from Montgomery on

my father is a bankruptcy attorney and he said that you are NOT able to file bankruptcy on student loans because of a law. you will get into serious trouble. sorry for the inconveince.



answers from Clarksville on

Hi Ashley: you can not discharge student loans in a bankruptcy, but do see an attorney about different options. Good luck!



answers from Little Rock on

Contact the federal student loan program. Consolidate the loans and sign up for the extended payment plan. We have $65K in student loans and pay about $425 a month. It's not the $128 you have, but it's better than $700. Hope this helps. :)

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answers from Fayetteville on

Hi Ashley,

I am not an expert, but I am pretty positive you cannot go bankrupt on student loans. My husband and I lost our 4 month old, very healthy little girl to SIDS in August of 95. With all of the medical bills, time away from work coping, using credit cards, etc, we had to file bankruptcy, and unfortunately, that is the one area you cannot. They do have a deferment option though. The first deferment for us was for 6 months, at that point we were able to get 6 more months. It has been a wonderful help.
A little more personal... Many people do not know or could ever understand what it's like to lose an infant. They kinda have this mentality that "oh, you only had them for a few months, how attached could you be..." I'm not going to say that I know what you're going thru, because we all have different experiences, but I have a really good idea. My heart goes out to you. I left my baby girl with my closest, dearest friend. She was giggling, playing, and completely normal. Little did I know 4 hours later my husband & I would be in for. She was layed down for a nap and she never woke up. I had never had anything of this magnitude happen to me or anyone I knew. Life has been really crazy, but I always try to stay optimistic. Last April my husband & I welcomed a new little baby boy to this world. To say we were a little paranoid would be a complete understatement. My husband had a complete nervous breakdown and I was close behind. We made it thru though. I had full plans to stay at home because there was no way I was going to let it happen again, but even with two really good jobs, in today's economy - it's hard to make ends meet - so I had to go to work. I chose a daycare I could get to within minutes. The infant teacher has been a godsend. I realize I'm longwinded, but I've said all this to say this - You took a very difficult course in this life and it sounds like you've done very well. I used to hate it when people told me this, but it's true, time will help you heal. Get a deferment for a while, and who knows, in a year, maybe you'll feel a lot better about letting your daughter be watched by someone else. You're a wonderful mom.

Giving you a big hug,
R. C.

1 mom found this helpful


answers from Fayetteville on

It sounds as if he has allowed his student loans to default. If he would merely contact the loan companies he should first: ask about consolidation; and second: ask for a hardship deferment. My husband and I have been deferring our loans for four years now, because our student loan payment is higher than our debt-to-ratio income(and we make $60,000 per year before taxes). You need to tell your fiance that he needs to get on the phone with the student loan company and speak to them (not get upset and yell). He cannot claim you on his deferment paperwork, but if your daughter is his, he can claim her, if you guys are living together. The paperwork is extremely simple to fill out, and the deferment date is retroactive (meaning that he will come out of default and the missed payments will not be due; they will just go back into the loan). The loan companies are open M-F...some are open seven days a week. He needs to talk to American Education Services...look it up online (AES) and consolidate with them if he hasn't already...my brother owes $45,000 in student loans and his payment is only slightly over $100 per month on a 20 year re-payment term. My husband and I owe over $250,000 in student loans and our re-payment isn't even as high as what you say is being demanded of your finance; so it sounds as if he needs the consolidation to bring the payment down to a reasonable level...but right now, he just needs to fix the default by getting a deferment.

This is fixable. You and your fiance need to let go of the stress and pick up a telephone. This can be remedied in less than a week, I promise. Everything will be okay if he acts upon this immediately. Good luck to you.

1 mom found this helpful


answers from Nashville on

Can I discharge my student loans in bankruptcy?
Student loans are no longer dischargeable in any chapter of bankruptcy unless you can prove that repaying the loan creates an undue hardship on you or your family. Prior law allowed their discharge once they had been in pay status for 7 years. The law changed in the fall of 1998.

Proving hardship usually requires showing that you can't provide a minimum standard of living for yourself and your dependents if you have to repay the loan. Some courts will discharge part of the loan on a showing that repaying it all would be a hardship.

Student loans are sometimes unenforceable due to school closures, fraud, etc. Chapter 13 can provide a way to cure defaults on student loans, or to pay them off over the course of the plan.

I would suggest calling an attorney and just ask... I know from experience how hard it is and it never hurts to at least check into it. Most atttorneys will meet with you free of charge the first visit. Good Luck.



answers from Chattanooga on

Hi Ashley,
School loans, like taxes and child support, cannot be filed in a bankruptcy. I empathize with your problem and know that something like this is very stressful.

I have quite a few years experience working in collections.. as well as an attorney for a father-in-law. If they do, in fact, garnish your husbands wages, they can only garnish a percentage of his bring home pay. Unless he makes a bundle of money, it will not be $700/month. Generally it's between 17-20%.

If you cannot work it out with them at all, consider this thoguht. I know being garnished is not the most appealing thing in the world, but to save some of your worrying, it may work out for you financially that way. Hope this helps.... and good luck to you all!



answers from Huntsville on


You cannot file bankruptcy on student loans. What you can do is contact your servicer and work out a lower payment or get a forbearance. A forbearance will temporarily stop your payments. They may still take the income tax refund, but you will not be responsible for the monthly payment for a period of time. I wuld contact the servicer as soon as possible. They should be more than willing to help.



answers from Birmingham on

has he tried consolidating his loans? I know I used to get several mailers a week before I consolidated and all of the mailers offered a very low interest rate. I don't think bankruptcy is ever the answer. It's an easy out for someone who doesn't want to take responsibility. Look into credit unions who usually have good rates, or go online and google low student loan rates.



answers from Shreveport on

You can't include the student loans in a bankruptcy, but you could defer the payments. I defered my student loans for about 5 years. You contact the lender and get the paperwork to apply for a deferment. You can defer payments due to hardship (not enough income to pay back monthly note). If they are threatening garnishment, he should do this as soon as he can.



answers from Knoxville on

Actually, I think that student loans are the one thing exempt from bankruptcy. Has he done a consolidation loan? I would start there. School loan consolidation can significantly lower your monthly payments. Also, look all of the options available to him through forbearance and deferrments. Mine and my husbands are both in deferrment. We would be in about the same boat as you if we had that much outgoing. Also, have you considered paying only the interest each month to keep it from accruing and, over the long term, raising your monthly paynments? Hope this helps. Let me know what you find out! And good luck!



answers from Nashville on

I thought that student loans didn't have to be paid back for 6 months after you got a job and then you could pay back what you wanted as long as you were consistant (not missing payments). I thought that was the "glory" of student loans.
What in the world did he major in to build up $60,000?
I also thought that they wouldn't allow student loans to go up too high unless you were going to have a job making a high salary per year.
My son is working with studen loans right now and this is some of the info that they have told him.... he will build up alot of money BUT he is going through pharmacy school.
I belive there is something that he can do to work out with whoever has the loans that he can pay $50/month to pay them back even if it takes him 10 yrs. I would check into that if I were you and maybe even talk to an attorney. I think that attorneys will talk to you the first time for free and tell you what to do but if you have to go back then he charges.
Good luck



answers from Tulsa on

Student loans are dischargeable in bankruptcy UNDER CERTAIN CONDITIONS. Depending on the TYPE of student loan, and the circumstances, your fiance's MAY be dischargeable. Federal student loans and some private loans cannot be discharged unless you can prove undue hardship (mentioned by the other post-er) The undue hardship has to lifelong, though. (no potential to make enough) People with disabilities etc. normally fall into this category. Sometimes (rarely), through bankruptcy, you can get the amount of student loans reduced, if the lender is willing to do so.

Also, SOME private loans ARE dischargeable. If they are administered/guaranteed by a non-profit organization, they are not dischargeable. More details are needed to determine whether his particular loans are dischargeable.

If you intend to include the student loans in a bankruptcy filing, it's not as easy as filing the normal Chapt 7 paperwork, and going through that process. Filing on your student loans will convert the bankruptcy to an adversary proceeding, which means a longer process and higher attorney fees, so be prepared for that.

Many attorneys will simply tell you that it CAN'T be done. In some instances, for some people, that's true, but if you consult an attorney and are told this, consult another attorney just to see what they think.

I'm an attorney, but recently moved to Oklahoma, so I can't help, but I know a good attorney that would be honest and would work it for you if you'd like a recommendation.



answers from Hattiesburg on

You can NOT eliminate student loans in a bancruptcy. The bancrupcy can buy you some time, and MAY stop the garnishment, but it may not.
If you were to file a Chapter 13:
A chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. If the debtor's current monthly income is less than the applicable state median, the plan will be for three years unless the court approves a longer period "for cause." (1) If the debtor's current monthly income is greater than the applicable state median, the plan generally must be for five years. In no case may a plan provide for payments over a period longer than five years. 11 U.S.C. §1322(d). During this time the law forbids creditors from starting or continuing collection efforts.

Check out this site for more information:

Remember, that bancruptcy will totally ruin your credit and you will not be able to eliminate it from your credit report for up to 15 years. So, even if you become model lendees and pay off new credit (if you can get it) and other obligations on time or early, the bancruptcy sitting there can prevent you from future home and even car purchases.

It is a BIG deal. Carefully consider ALL other options before choosing brancruptcy.

The best option is to find a lender who will refinance them and offer you lower payments (maybe interest only) until a set date. Maybe refinance your home or take a second mortgage to pay the student loans up-to-date.

Once the loans are "current" you can place them in deferrment, claiming a hardship. (Unemplyment, below avergae earnings, illness)

I hope this is helpful. I have been through bancruptcy and I wish someone had really explained how long-reaching the effecs would be.... I would NOT reccomend it to anyone.

I see a couple of other posts suggesting work from home options, and I also have a home business I love!
If you are interested iin a home business with no parties, no selling and no inventory, check out my site: www.workathomeunited.com/llgwright

L. G



answers from Memphis on

Ashley -- A couple of things. You are not responsible for your spouse or fiancee's student loan debt. Only the person who has taken out the loans is responsible for paying back those loans.

Second, have your fiancee call the student loan people and tell them your situation, that he's supporting you and a baby, etc. Tell him to discuss how much he makes and see if they can give him a deferred or adjusted payment. If you keep in touch w/them they are usually pretty good about working w/you.

Best of luck.



answers from Fayetteville on

I know that you cant claim bankruptcy but have you looked into foreberance or consolidation? Consolidation helped me get my payments from 450 a month to 287. Foreberance will keep you from making payments for a year and if you cant start making them then you can claim it for up to 4 years. And during foreberance you can make payments if you choose. But your interest does accrue during foreberance. I hope this helps. I would try to get in touch with your lender asap and see what they can do to help. But I highly recommend consolidation or foreberance.



answers from New Orleans on

I work for two bankruptcy attorneys and I am sorry to say that you can not declare bankruptcy on student loans. My advice would be to talk to a Capter 13 bankruptcy lawyer. The two attorneys I work for only do Ch. 7 and that won't help. You need to try and reaffirm with them to seek a smaller payment..or check out other student loan sites. You need to do something before they garnish the wages. Cause you can not do anything once it gets to that point. i am sorry for your loss. I have 4 boys and I can not imagine my life without the. Please feel free to contact me. I don't know how much i can help but I can certainly ask the attorneys questions.



answers from New Orleans on

No, you can't file bankruptcy on students loans. He borrowed the money to go to school and it is his responsiblity to pay it back and student loans don't fall under bankruptcy as the government expects you to pay this their loans back. Can he find a better paying job or possibly a second job? Sounds like you need to get your family some spiritual counseling as you've been through and continue to go through a very stressful time in your life. Also sounds like you need some grief counseling which you can also find at many local churches and universities. I'll pray for you.



answers from Jonesboro on

I don't know anything about whether you can file bankruptcy on student loans, but you should have a great deal of flexibility with student loans - call your lender. There are a variety of possible repayment plans - such as consolidating so that you have 30 years to repay the loan, income dependent plans, etc. You need to call your lender ASAP - they start garnishing when you are missing payments, so it sounds like your fiance hasn't talked with the lenders. Call them IMMEDIATELY and ask whether there are other repayment options that will lower your monthly payment. I'm not an expert, but I hope this helps.



answers from Hattiesburg on

Sorry Ashley, student loans are NOT dischargeable in bankruptcy. Have you consolidated? Go to suzeorman.com for more info on how you can possibly handle this issue, she has addressed this several times on her show. Also, contact the Consumer Credit Counseling Services in your area; find them at www.ccsno.org. Good luck!



answers from Atlanta on

My husband has about $40,000 worth of student loans. He consolidated them as soon as he got out of school with a very low interest rate. We pay just under $200 a month. This will go up in about three years I think. It will continue to go up just a little until we are done paying them off (when were in our 50s!!--hopefully we can pay them off before then!). The idea of course is he will continue to get higher pay being able to pay higher amounts.

All this said--I agree with the others' advice to call and try to consolidate your loans with a low interest rate. I think there are several companies that do this. I would make some calls, explaining your situation and see what can be done. I hope you all find the help that you all need!!



answers from Birmingham on

Are these government student loans? They are usually very fair and easy to work with, and will lower your payments when you call them. Also, I think you can halt the payments for certain reasons (when I went back for my master's, they quit charging me student loans since I was a full time student again).



answers from Knoxville on

he can get a second job



answers from Birmingham on

No, you cannot bankrupt student loans. $60K! Does he have a master's degree from a private school? What is he doing? Making lots of money I hope.

It sounds like your fiance is behind. Can he get a forebearance?

You might consider counseling -- don't enter marriage with this kind of stress hanging over your head.

My biggest suggestion is to go to www.daveramsey.com and enroll in Financial Peace University. It changed our lives. We did that 8 years ago, now... no lingering sucky debt, no money fights. It was a hard battle but worth it!!



answers from Fort Smith on

sorry for your mishap dear - i to lost a baby so i know where the hurt lies and stays. only i went the opposite direction when my twin son passed , i turned to drugs and all. been clean now 24 years.as for the bancrupcy thing , yes u can file but it will go against any credit's u try to get for the next 7 to 14 years. go to www.lowermydebts.com and i hope they can help u.



answers from Biloxi on

Hi Ashley. I owe over $52,000 in student loans and have consolidated all but one of them. I pay 320.00 a month for both loans. I know I will probably be paying this forever, but my interest rate was locked in at 3.7% for the bulk of the loans. I looked into bankruptcy a couple of years ago, but this was really my only debt and at that time bankruptcy did not cover student loans. Definitely check into consolidating the loans.



answers from Baton Rouge on

Are these federal student loans or through a private lender? If they are federal, then you can apply for a couple of relief options. One is a deferment due to financial hardship. The other is an income-sensitive payment plan.
Go to www.dl.ed.gov - you can email them or call them toll-free and they can help you.



answers from Jackson on

have you considered taking out a loan at maybe a credit union, i know that a credit union has lower interest rates than maybe a bank. Hope that helps.

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