SallieMae Payment Not Req'd til' after Discharge 7

[JoeKing]

I tried to make a payment on my student loan. My website online access has been disabled and the rep. stated payment is not required until after the BK 7 discharged. I filed BK 7 and waiting for 341 hearing.

Is this correct? True? mmmm...

Thanks for your knowledge in advance!

[lrprn]

I tried to make a payment on my student loan. My website online access has been disabled and the rep. stated payment is not required until after the BK 7 discharged. I filed BK 7 and waiting for 341 hearing. Is this correct? True? mmmm...

Yes, student loans are placed in deferment after filing Ch 7 until your case is discharged. However, your loan will continue to accrue interest during the deferment.

Don't wait until SallieMae contacts you after your discharge to start making payments again. Contact them yourself.

Also hopefully after filing you'll be able to start consistently making more than the minimum payment requested on your loans. If you just make the requested payment and no more, you will be paying on this loan for many, many years without seeing much of a reduction. This is because the requested payment typically pays only the interest and not much more. Quite a scam, eh? It's one that many student loan lenders use to their advantage - SallieMae especially.

[emmacat]

Wells, Sallie, & irs on hold too?

I was wondering the same thing about my Wells Fargo student loan (private career training) and my IRS monthly payment. Are those ALL on hold until after discharge? Haven't received bills for this month. Are Wells & Sallie going to hit me with late fees?

If so, whew hoo! It keeps getting better and better.

[JoeKing]

Thanks lrprn... I can't wait until this is over. I would be able to finally payoff my student loan. You are right about the payments. Read the little letters on the disclosures. I should be able to payoff my student loan in 3 years.

Would they accept my payments, even thought BK7 has not been final or discharged?