Debt incurred over 6 months ago
I am in the process of filing chapter 13, I have not used my cards in almost 6 months. I did use the card to pay off my sons student loan in order to get a lower interest rate. This was a Sallie Mae Loan. My question is since this is a student loan and I believe considered secured am I liable to pay this loan 100%. Also is this liable to ruin my chance to file CH 13? Any info. would be appreciated.
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How did you pay off this debt with the credit card? Was it charged to the card like a purchase or was it a balance transfer check? If they are on their game, they'll dispute your ability to discharge the debt and you may have to pay back 100% of that charge. Has your attorney given you a rough estimate of your payback percentage? Will you be in a 100% plan? If you are in a 100% plan it is irrelevant. -
Thanks for the input. I paid for this like it was a purchase. When you say if I have to pay 100% and it's irrelevant what do you mean? thanks again.Comment
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If you are in a 100% payback plan, you will be paying your creditors 100%. It won't matter whether or not the debt is can be discharged, as you will be paying it back. If you are in a less than 100% plan the creditor may or may not dispute the discharge of this one amount. If they do, you may have to pay back this amount in full. The question will be if they even think to dispute the amount or not.Originally posted by ATC View Post
The question of this charge is probably best answered by your lawyer and I have no doubt that his/her answer will be "maybe"
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