Social Worker suggested bankruptcy
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Post  Thu, Jan 17 2008, 3:31 pm
In no way, shape or form should this be construed as legal advice. For legal advice, please see a lawyer.

The law re student loans was changed a few years ago. They're no longer generally dischargable, although there are hardship exceptions. Other exemptions may depend upon state law and upon the chapter under which a person files.
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Pickle Lady


Post  Thu, Jan 17 2008, 4:10 pm
re: student loans. I had a friend who also did bankruptcy and he also said his student loans still stood. But I was wondering if there was a difference between some stend loans. Some are through the goverment and some through private agencies. Maybe that makes a difference.
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Post  Thu, Jan 17 2008, 4:26 pm
chocolate moose wrote:
Consult with an attorney. It ight be an option for you.

We also had debts and paid them down, and coulnt buy an apt until we were inour 40's. Our friends who DID diclare bankr. all had homes much much earlier ....

Hi, do you know which threads you wrote all your frugal tips on. you seem to have a good head with this stuff. Very Happy
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Post  Thu, Jan 17 2008, 4:30 pm
chocolate moose wrote:
TwinsMommy wrote:
I know nothing about chapter 13 but in chapter 7 (we have friends who went through it) student loans cannot be discharged.

and our friends DID get their student loans discharged of record.

talk to a lawyer...but student loan discharge rules have MOST definitely changed.

DH's still stood
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chocolate moose


Post  Thu, Jan 17 2008, 4:49 pm
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Post  Thu, Jan 17 2008, 10:23 pm
It might be worth your efoort to try negotiate with th ecredit card companie s- I know of people who have done that. They call them up and say thta they are probably going t o file bankruptcy but to try and avoid it they would lik eto try reduce their debt- sometimes they will cut it in half inhopes of at least geting something back from you.

But also please be aware that bankruptcy doe sruin your credit for many years - please consult a lawyer who will be able to advise you on all th implications!
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