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Parents want to pay off Student Loan. Question!

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    Parents want to pay off Student Loan. Question!

    Hello, My wife and I had our 341 July 20th all went fine. My wife's parents have been paying on her student loans for about 2 years now and are almost paid off. We have never paid on this loan at all but it had to be listed because its in my wife's name. Is there any issue with her parents paying it off? There is only 500$ left on it and they just want it over and done with. Im just worried that the trustee could take it at this point. I put in a call to my attorney to double check but I havent heard back. I cant see it being a problem I just dont want to have any issues. Thanks!

    #2
    Your attorney needs to be aware of the situation since it is in your wife's name being paid by someone else. This should have been brought to his attention when you retained him.
    _________________________________________
    Filed 5 Year Chapter 13: April 2002
    Early Buy-Out: April 2006
    Discharge: August 2006

    "A credit card is a snake in your pocket"

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      #3
      It definitely was, He was aware of it and said it was no issue at all at the time. I never realized they were paying so much on it over the years to be able to pay it off this quick until recently. We never included it as an expense or anything like that.

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        #4
        Does this situation usually cause issues? Im kinda freaked out now heh.

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          #5
          Why can't they wait 53 more days?

          Although the trustee is not going to know or care about:

          a payment made on non-dischargable debt,

          for $500,

          made after the 341.
          Wife Laid off - 11/16/2009 Missed First Payments - 12/5/2009
          Filed Chap 7 - 12/31/2009
          341 - 2/12/2010
          Discharged - 4/19/2010

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            #6
            Its a non-issue. What your inlaws pay (or don't pay) with their money is up to them. It would be a problem ONLY if they were the ones filing bankruptcy.
            Get mortgage modified: DONE! 7 months of back interest payments amortized, payment reduced over $200/mo
            (In the 'planning' stage, to file ch. 13 if/when we have to.)

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