QUESTION
Will filing bankruptcy have an effect on my current student loans?
Asked on Sep 04th, 2012 on Bankruptcy - New Jersey
More details to this question:
I am a student at a technical school and I only have my externship left. It will take me about 9 weeks to get through my externship. If I start the process of bankruptcy, will it affect my financial aid I have already received? My loans have already been paid for by the aid I received but I fear filing bankruptcy will cause me to lose my aid. Should I wait until I have my diploma to file or am I close enough to being done that it wont have any negative affects?
10 ANSWERS
Chapter 7 Bankruptcy Attorney serving Appleton, WI
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Sisson & Kachinsky Law Offices
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As the loans have already been paid out to u, u should be safe. Naturally the loans will not be dischargeable in Bankruptcy.
Answered on Sep 13th, 2012 at 8:41 PM
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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If you can wait the 9 weeks then you should wait,? just to avoid issues.? You will not be able to get out of the loans.
Answered on Sep 13th, 2012 at 8:33 PM
Student loans are non-dischargeable.
Answered on Sep 13th, 2012 at 11:29 AM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Bankruptcy should not affect the loans you have received or will receive. Understand that there are limits on exemptions - which may apply to funds that you are holding when the bankruptcy is filed. Also understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.
Answered on Sep 13th, 2012 at 1:13 AM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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You need to consult with a local bankruptcy attorney about this. Student loans are largely non-dis chargeable.
Answered on Sep 13th, 2012 at 12:39 AM
3 Awards
Filing bankruptcy will not affect federal aid, but private loan eligibility would likely be affected.
Answered on Sep 13th, 2012 at 12:14 AM
Alternative Dispute Resolution Attorney serving Ventura, CA
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Zahn Law Office
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Since student loans are not dischargeable in bankruptcy, it won't eliminate any of the student loans you might have. It could prevent you from getting loans in the future, however.
Answered on Sep 13th, 2012 at 12:09 AM
Bankruptcy Attorney serving Myrtle Beach, SC
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Law Office of Margaret L. Evans, PC
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You won't be able to discharge your student loans through bankruptcy.
Answered on Sep 13th, 2012 at 12:07 AM
Are your loans federal. Student loans are non-dischargeable at Bankruptcy unless the lender is not backed by federal law, e.g. family lender or friend lending you money for school. Thus filing bankruptcy will not affect your loans and you can file now.
Answered on Sep 12th, 2012 at 11:56 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
2 Awards
Recommend waiting and then file.
Answered on Sep 12th, 2012 at 11:49 PM