College during bankruptcy

[KKAB]

[HHM]

Let's back up a bit.

What debt is driving you back to BK...are you young (i.e. normal college age), or ar you returning to school?

[KKAB]

Okay, backing up a bit. Yes, young, but, returning back to school- I'm 32. I've been working on a degree for 10 years. My debt is about $28,000 worth of credit card debt that I have to keep borrowing to pay each month.

I haven't even began paying back student loans yet, but know I will be making $30,000 more per year after I get a degree (and, of course, a full time job to go with it!). If I didn't see promise of making more money I wouldn't be spending it on college. I am to the point where my husband and I can't make it each month. So, although we have tried to put it off, BK is the only way to go, but I'm open to any ideas!

[One Half Full]

I was going to start my MFA this semester but decided to hold off one semester to get this situation over with. I think I saw it as you say, that they would see it as getting into even more debt. My only advice would be not to put too much trust in the statistic that says college graduates make more money than non-college graduates. I went for that, and ended up working for 10 years in "production." Even with an MFA, I feel I will be lucky to get a 30K per year teaching job.

[KKAB]

If I get the grant/loan after I file would I have to disclose that information to the trustee at the 341 meeting? I don't even know if I can get a student loan after I file, so I'll have to see. Funny you should bring up teachers making 30K, here they make 40K starting, and that's with a bachelor's.

[One Half Full]

If I get the grant/loan after I file would I have to disclose that information to the trustee at the 341 meeting? I don't even know if I can get a student loan after I file, so I'll have to see. Funny you should bring up teachers making 30K, here they make 40K starting, and that's with a bachelor's.

I asked the lawyer the same question.
The only think they need to know about is windfalls like lottery winnings and inheritances. People here have gotten cars and so on requiring loans right out of the gate. I think if you were getting a ch 13 you would but not a ch 7. I will be getting a loan for school, and I don't plan on saying anything. After the date of filing, even if you began to earn a lot more money, I don't think they could take it. Maybe creditors could somehow come after what they were owed if they wanted to spend the money for a lawsuit.

[sisterfunkhaus]

You can get student loans with bankruptcy. It does not affect your ability to do so.

[MajorMike]

Exactly! I'm getting them now and my attorney said they are government loans. I dont even have to start paying them back until 2010.