After yet another dog emergency, and doing my taxes (where I owe the feds) I am convinced that biting the bullet and going for the 7 is in my best interest. I failed the means test on NOLO but I am a disabled (enough) veteran with debt that was about 95 percent stacked up on active duty. This means I don't have to worry about taking the means test. Next step is hiring attorneys.
I do plan on keeping the car as I will have more than enough money to finish paying it off. One point of contention I have is witha private student loan that will never be paid off at this point. I owe a government backed SL which won't be discharged. However, this private one is not guaranteed by anyone and was used to consolidate CCs used for tuition back in 1999-2000. After ten years it is maybe 25 percent less than I borrowed. I had heard that the 2005 BK laws have changed the rules on private loans and made them non dischargeable. Does anyone have experience in this area?
I do plan on keeping the car as I will have more than enough money to finish paying it off. One point of contention I have is witha private student loan that will never be paid off at this point. I owe a government backed SL which won't be discharged. However, this private one is not guaranteed by anyone and was used to consolidate CCs used for tuition back in 1999-2000. After ten years it is maybe 25 percent less than I borrowed. I had heard that the 2005 BK laws have changed the rules on private loans and made them non dischargeable. Does anyone have experience in this area?
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