Best Strategy to Pay off Chase Student Loan

[freedomnow7]

I am currently awaiting discharge of a Chapter 7 Bankruptcy. I know that student loans are not dischargable. I have a Chase Student Loan that I will need to start paying on once the BK is discharged.

These are the facts:

1. It is Charged Off
2. I received a call from a Collection Agency named Frederick Hanna & Associates. When I told them that the manner was in BK, they immediately hung up the phone.

My question is:

1. Once the BK is over, do I attempt to negotiate with Frederick Hanna or Chase directly?
2. If negotiation is possible, what would be a good starting amount to negotiate from?

[KeithDoxen]

1. Once the BK is over, do I attempt to negotiate with Frederick Hanna or Chase directly?
2. If negotiation is possible, what would be a good starting amount to negotiate from?

1. Whichever you prefer. I would start with Chase directly. Maybe Chase will rehabilitate your loan.
2. Why don't you start with what you can afford to pay. You're bankrupt. They know that you've just been liquidated of assets and that you don't have three houses and a boat that they can try and collect. This might make them more willing to work with you on reasonable monthly payments.

[freedomnow7]

Do you think there's any harm with just sending in payments to Chase on a monthly basis?

[KeithDoxen]

Do you think there's any harm with just sending in payments to Chase on a monthly basis?

I think you should communicate with them about it. You want to make sure these payments are actually being applied to your account. The worst they can do is demand a payment you can't afford or tell you to talk to the collection agency. If either they or the CA won't accept a reasonable payment, then you can re-evaluate your strategy. But my guess is that they will accept what you can afford given that they know it would be a waste of time to sue you at this point since you've been liquidated of assets.