Does anyone know if there is any way to file bankruptcy on a student loan?
TA-455 asked:
I have a GSL student loan that was originally $4500.00. I have not been in contact with anyone about the loan for so long, that now the balance is $24,000.00. Yes that right! It is 6 (six) times what I borrowed. The loan re-payment was suppose to start 6 months after I graduated but could’nt get work, then had no home for a month. Anyway is there any way to claim bankruptcy? Thank You,
TA-455.
I have a GSL student loan that was originally $4500.00. I have not been in contact with anyone about the loan for so long, that now the balance is $24,000.00. Yes that right! It is 6 (six) times what I borrowed. The loan re-payment was suppose to start 6 months after I graduated but could’nt get work, then had no home for a month. Anyway is there any way to claim bankruptcy? Thank You,
TA-455.
May 24th, 2009 at 2:28 am
Yeh you could but you would loose everything, house, car, the lot. You shouldn’t have just forgot about it. Now as you want to file for bankruptcy everyone else pays for your laziness. Get a job and pay off the loan.
May 26th, 2009 at 8:07 pm
Lots of people think that once they’ve filed for bankruptcy they will be unable to ever get a loan again, and ultimately they are unable to do anything financial ever again. This isn’t always true, there arewill help to improve your credit history in a number of different ways.
May 27th, 2009 at 3:58 am
from what I have heard, student loans are not able to be discharged in bankruptcy. you might want to meet with a bankruptcy attorney in order to find out for sure. you might be able to negotiate and settle for less. you really dont want to mess up on student loans like this as they are near impossible to get out of paying
May 29th, 2009 at 9:25 am
Sorry, but there is no way to discharge a student loan. Bankruptcy will eliminate all other debts and that might then allow you to pay off your student loans but the student loan will need to be paid off eventually.
May 29th, 2009 at 1:02 pm
You can find some basic info on Student Loans here…