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Will Sallie Mae default due to Ch 7?

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    #1

    Will Sallie Mae default due to Ch 7?

    I have $35K in student loans from Sallie Mae. They were originally all Stafford loans and were consolidated a few years ago. My payments are current and I did list Sallie Mae in my petition even though I know they will not be discharged. I filed Ch 7 on 8/24/10 and still have online access as of today. I'm reading about companies that will default a loan because of BK. Does anyone know if Sallie Mae will do this? If so, what should I expect?

    Thanks!
    A fresh start is a beautiful thing. And I'm not an attorney, just opinionated!
    Tags: forbearance, online payment
    #2
    My experience with Sallie Mae is that they will not default your student loans. You will likely be put into bankruptcy forbearance until the case has been adjudicated. It generally takes awhile for this to happen from the time that you file, so keep paying your Sallie Mae loans as you normally would if you can. At some point you will probably lose access to your account online, or you will still have access but the account will be in forbearance. After the discharge, Sallie Mae will put you back into repayment, though this may take awhile as well. Best thing to do is stay on top of them and call Sallie Mae if you have any questions.

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      #3
      Phew, thanks! I should be able to keep current, but I always pay my loans online so hope they won't yank my access.
      A fresh start is a beautiful thing. And I'm not an attorney, just opinionated!

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        #4
        I think you will be fine......even if they resrict access during BK (I can't remember if they did or not) I do have access again, so you should get it back.
        New Orleans: Home to the World Champion Saints, the biggest enviromental disaster and the biggest natural disaster in the history of this nation. Proud to call it home!

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          #5
          Originally posted by discombob1 View Post
          Phew, thanks! I should be able to keep current, but I always pay my loans online so hope they won't yank my access.
          Your loans will go into forbearance while your bk is active and you will get online access again after you are discharged.
          You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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            #6
            I wonder if Sallie Mae will work with me since I can not pay the full monthly payment they currently have me at. Has anyone have any experience in this matter?

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              #7
              They did not send mine to default. They suspended my account access but it resumed once the case was over.
              Teacher Momma

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                #8
                I filed in July and my account access was cut off. I was discharged today, so I will be calling them to see what is going on with my account.

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