Greetings, Everyone!
As I was researching about student loans POST CH7, I came across this from NOLO:
"There will be no arrears at the time of reactivation."
I really hope this means what I'm thinking. Does this mean that even if I was a couple months behind at the time of filing, and even if I didn't make any 'voluntary payments' during the automatic stay, that once I 'resume' payments with our lender, that we will be given a date to resume & a monthly amount (I assume it will be approximately the same as prior to filing) to start paying, and they will not expect payments for the past due (prior to filing) or for any months during the automatic stay?
I'm assuming that our payoff amount will still be the same - nothing subtracted, but all months owed for just moved to the 'back' of the loan (?)
I have been trying so hard to get together & save all the money for the 'past due' amounts (a couple months at time of filing) and for all months while awaiting discharge, and to have it all ready by our discharge date (Jan 13 is our 60 days), but now wonder if I need to do this?
I would appreciate any guidance/info on this.
By the way, many thanks for everyone's kindness and assistance throughout this process.. This forum is awesome! We are SO happy to have completed our 341 & only 20 days until discharge.
Oh, btw, if we are a no-asset chapter 7 case, how soon is the "Final Decree" by the courts, once the 60 days for objection clears (assuming there are no objections)? Can anyone advise?
As I was researching about student loans POST CH7, I came across this from NOLO:
"There will be no arrears at the time of reactivation."
I really hope this means what I'm thinking. Does this mean that even if I was a couple months behind at the time of filing, and even if I didn't make any 'voluntary payments' during the automatic stay, that once I 'resume' payments with our lender, that we will be given a date to resume & a monthly amount (I assume it will be approximately the same as prior to filing) to start paying, and they will not expect payments for the past due (prior to filing) or for any months during the automatic stay?
I'm assuming that our payoff amount will still be the same - nothing subtracted, but all months owed for just moved to the 'back' of the loan (?)
I have been trying so hard to get together & save all the money for the 'past due' amounts (a couple months at time of filing) and for all months while awaiting discharge, and to have it all ready by our discharge date (Jan 13 is our 60 days), but now wonder if I need to do this?
I would appreciate any guidance/info on this.
By the way, many thanks for everyone's kindness and assistance throughout this process.. This forum is awesome! We are SO happy to have completed our 341 & only 20 days until discharge.
Oh, btw, if we are a no-asset chapter 7 case, how soon is the "Final Decree" by the courts, once the 60 days for objection clears (assuming there are no objections)? Can anyone advise?