Posted on: 13th Jan, 2010 10:05 am
I currently have a manufactured home loan with on time payments in a park. I also filed bankruptcy in 2005 right before the laws changed and reaffirmed on the home and car which is paid off. I have personal student loans totaling about 30+thousand dollars which i cannot pay. I also have stafford government loans which are deferred and i plan on paying them. I know i can ger garnished, but i will never be able to pay these personal student loans due to the economy and the slow down in my income as a waiter full time at disney. Should i ever respond to these personal loan companies who have bought them from wachovia and chase? or will they just fall off my record along with my bankruptcy one day? they threatened to take my car and mobile home in a rented park lot, but in florida, i dont think they can. what is your best advice in dealing with these companies that have bought the defaulted personal student loans that were based soley on my good credit at the time of schooling?also since the bankruptcy i opened a best buy mc which is on time, paid off my car, kept my home loans current, but defaulted on two cc's during the economy turn for the worse... i can only pay the basics....
Student loans do not get discharged in bankruptcy filing these days. However as you filed your bankruptcy before the new rules came into effect, then I think it should have been discharged through your bankruptcy. In my opinion, you should immediately contact your bankruptcy attorney and check out with him what you need to do in this regard.
If you find that the student loans were not discharged in your bankruptcy, then you'll have to negotiate with the collection agency and try to pay them off. If you do not pay them, they may sue you for it.
If you find that the student loans were not discharged in your bankruptcy, then you'll have to negotiate with the collection agency and try to pay them off. If you do not pay them, they may sue you for it.
>>Student loans do not get discharged in bankruptcy filing these days.
Student loans weren't eligible for discharge under the old bankruptcy laws either, and there's no way to get rid of them. They have to be paid.
I did a Reverse Mortgage for a lady in her 70's, and Social Security was garnishing her Social Security check for unpaid student loans she aquired much earlier in life. The loans started out at approximately $3,400.00 and were $17,000.00 by the time she started collecting her Social Security retirement. It's best to contact the lenders, explain your situation, and work out an agreement.
Student loans weren't eligible for discharge under the old bankruptcy laws either, and there's no way to get rid of them. They have to be paid.
I did a Reverse Mortgage for a lady in her 70's, and Social Security was garnishing her Social Security check for unpaid student loans she aquired much earlier in life. The loans started out at approximately $3,400.00 and were $17,000.00 by the time she started collecting her Social Security retirement. It's best to contact the lenders, explain your situation, and work out an agreement.
