QUESTION
Can I include a college debt as unsecured debt in filing bankruptcy?
Asked on Mar 06th, 2013 on Bankruptcy - New Jersey
More details to this question:
I've been in chronic unemployment for most of the recession. I am researching how to file bankruptcy. I owe the school where I completed my degree approximately $12,000. Can I list the debt as unsecured debt in filing chapter 7?
7 ANSWERS
You can file bankruptcy on all unsecured debts, however educational loans are not dischargeable in bankruptcy.
Answered on Mar 18th, 2013 at 1:57 PM
Bankruptcy Attorney serving Hampton, VA
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Haven Law Group, P.C.
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Student loans do have to be included in your bankruptcy. However, they are not discharged.
Answered on Mar 14th, 2013 at 2:43 PM
Bankruptcy Law Attorney serving Austin, TX
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Law Office of Susan G. Taylor
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If the debt qualifies as a student loan debt, the answer is no it is not dischargeable in bankruptcy. If not, then yes. You might inquire of the school before filing, if that is your major debt.
Answered on Mar 07th, 2013 at 11:58 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Not only can you list it, the law requires that you list it, along with all your other debts. You will need to file an adversary in order to determine is this debt is dischargeable.
Answered on Mar 07th, 2013 at 1:38 PM
This debt will probably be non-dischargeable as an educational benefit which can no longer be discharged in Chapter 7. Very difficult to obtain a hardship Discharge.
Answered on Mar 07th, 2013 at 1:37 PM
You can and you must list all of your debts, but whether bankruptcy can eliminate this debt will depend on a more complete analysis of the nature of this debt and your current medical condition. You are not educated enough to make this determination on your own, so I would urge you to retain a local bankruptcy attorney.
Answered on Mar 07th, 2013 at 1:37 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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If it is a school loan, then know you can not discharge it. It would be listed but not discharged. If it is not a school loan, then you may be able to.
Answered on Mar 07th, 2013 at 1:36 PM