We have never been approved for a plus loan before and 4 months into our Chapter 13, my husband was approved!?! We still are awaiting our confirmation from the trustee (mortgage company files 2 objections, dragging this out). How can we deny this loan and prevent us from getting approved again but still get the loan denied so they can borrow under the federal unsub program? In the past, we would apply, get denied, and then the financial aid office can use the denial letter to allow our child to get additional unsub funds. We have 2 kids in college for the next 4 years so I'd like to get this straightened out up front. Thanks!
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Call or email your lawyer to find out how a situation like this is handled in your local court and by your trustee. Ch 13 filers are not allowed to take on new debt without the prior permission of the trustee, and a ParentPlus loan is definitely new debt.
Did your lawyer know you had applied or intended to apply for a ParentPlus loan?I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to go -
I will be interested in following this. My son is off to college in the fall and we are still trying to understand how all this will work.... Good luck!
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