Both of my student loan providers have been notified of my filing for Chapter 7 Bankruptcy. They have since indicated that there is no payment due and they will notify me when it is to resume. Will I owe one big payment for all of those payments missed due to my bankruptcy? I pay a relatively small amount to them monthly but I don't want to get smacked with a 3-5 payments in one shot. Any advice or experience in this realm would be greatly appreciated. Thanks in advance.........
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Filing: 4/10/2009, 341: 5/18/2009
Last day for objections: 7/17/2009
Discharge: 7/29/2009 -
First of all, don't wait for the SL lenders to contact you after your discharge. Be proactive and contact them. I say that because there have been members who were notified by the lender that they were in arrears after discharge for not immediately starting payments - and the lenders NEVER notified them by letter or phone call. Don't find yourself in this situation - call them immediately after receiving notice from the court your 7 is done and find out what to pay, who to pay, and when. Don't assume it's going to be what you did before filing - it might not be.
Once your payments start again, they recalculate the monthly payment to include the accumulated interest that built up during your case. You don't "make up" payments.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 -
Duly noted, thanks IRPRNFiling: 4/10/2009, 341: 5/18/2009
Last day for objections: 7/17/2009
Discharge: 7/29/2009Comment
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My student loans have just been put on "Bankruptcy Forbearance" - meaning the forbearance time does not take away from regular forbearance time
interest would continue to accrue but no payment until out of forbearance at end of court decision for 13 or discharge for 7Comment
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Can you pay them anyway even when you are in forbearance? or is that a no no?Comment
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I asked that in another thread and they said you just need to get their "bankruptcy payment address".BK Ch 7 Discharged 09/2009 | Anything I say can and should be used as friendly advice and sharing of experiences with an unbiased viewpoint.
Scores: EQ 745 EX 704 TU 710 as of 08/15/2012Comment
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Yes you can pay.. or at least with mine you canComment
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You can indeed pay while you are in BK. It would be to your advantage, actually, because when you're not paying during the BK all that interest is going to compound. They basically sent you that because they can't send you a bill every month, etc while you are in active BK.I'm not a lawyer or legal expert, just offering advice on what I may have gone through and/or have knowledge of. Good luck!
341-done
Last date for objections: 02/21/06 - done
Discharged: 02/24/06
Case closed: 3/8/06Comment
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