QUESTION
Is there any way I can file bankruptcy if now I am stuck paying almost $50,000 to a school that does not exist anymore?
Asked on Apr 09th, 2017 on Bankruptcy - Nevada
More details to this question:
I was attending a school but the school actually went bankrupt, I believe last year. I did not graduate to dropping out because I was pregnant at the time. I want to continue school. I have 3 kids. I'm unemployed. We have been making our payments. I pay the loans with the help of my mom but she is now in hard times as well and can no longer afford to pay it for me.
2 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Bankruptcy court is the wrong place to go about a school that was a scam. Apply to the Department of Education.
Answered on Jul 07th, 2017 at 8:02 PM
When you say that WE HAVE BEEN MAKING THE PAYMENTS, it suggests that someone else, like a spouse, is helping you to pay. This may not be a good case for trying to resolve your student loan through bankruptcy, so I would suggest looking for other solutions. Sure would have helped to specifically address your concerns had you bothered to tell us whether these loans are government insured or private loans, as well as whether you have other debt that makes bankruptcy a could option. My recommendation is to meet with an attorney that specializes in resolving student loan debts before jumping onto the bankruptcy bandwagon.
Answered on Jul 05th, 2017 at 7:22 PM