Please help

[needinganswers]

HHM, I brought up the "Motion to Determine the Dischargeability of the Debt" to my lawyer, and she said that the law provides that the debtor has the responsibility of filing a motion with the court to declare that the debt is non-dischargeable. But you would only need to file such a motion in the event that the lender persists in collecting the debt even after the discharge. So it is not yet time to file such motion. And then she replied again this afternoon stating that according to her mentor (another lawyer she consulted with), he's advising that the complaint to determine dischargeability must be filed NOW, before the bankruptcy is discharged. The last day of objection is 09/19. This lawyer charges $290/hr. and says that typically the fee would be AT LEAST $3,000. My God! Where am I going to get this money?? But again $3K vs. $110K. I don't know what to do. She asked me if the school is private or non-profit and it is a private school. My lawyer is swaying me to file this motion of dischargeability now because she doesn't want KeyBank to go after us after the discharge. Thank you for bringing up this filing of motion to my attention. Had you not brought it up, I wouldn't have had the chance to make a decision whether to act on it or leave it alone. I don't know . . . I just don't know what to do.

[mpk0001]

my wife and I are in the same boat. (both of us are pilots) we have tried to keep up but we are just chasing interest. Our Atty asked us if we knew other pilots in this situation with Key Bank. Apparently he has helped Doctors with bankruptcy before but this pilot/key bank/flight school interests him because it is kind of a new thing to have all these pilots running around with 100k private loans and limited resources to repay. We have lots of friends in the same position and we are trying to get in touch with as many as possible. Most of our fellow aviators are living as dependents again in their late twenties and thirties because of these loans. Can you tell us your status?

[danaf]

mpk0001 - needinganswers filed before the new law took effect in Oct of 2005. And I think this is what enabled her to to do this. Apparantly, thanks to some crooked congressmen & a corrupt system, all student loan is now not dischargable, gov't, or private. I suppose if one wants to try to file an advesarial proceeding, they could try to do so. I hadn't really thought of this angle until I went back and read needinganswers posts.

I'm very interested in this myself because I have a Sallie Mae private loan that I'd like to discharge. And I'm sure many others are interested where it concerns private loans. Please do come back and post about what you find out. I find it absolutely unbelievable that private loans have gained the same status as gov't loans where it concerns bk. It shouldn't be this way.

[CindyLou]

Please note, the thread that you posted to is 3 years old and the information was only applicable prior to the bigs changes in the law in '05.

A lot has changed with Student Loans since then. I recommend that you start a new thread with your question in order to get the best response.