student loan and BK..m

[hopeforus]

OK this is what it says in the exit counseling...

"Bankruptcy — Student loans are generally not forgiven in a bankruptcy. If you file for bankruptcy, your student loans will be placed in forbearance until the bankruptcy is discharged (completed), at which time regular monthly payments would be due. You may continue to make your student loan payments during this time if you are able. Contact your lender or servicer if you file for bankruptcy."

[hopeforus]

Now... does that mean what I said it does? If you are currently in school then would your loans be due as soon as the bk is discharged? Or is that only if you are currently paying on them?

[coolmom04]

Now... does that mean what I said it does? If you are currently in school then would your loans be due as soon as the bk is discharged? Or is that only if you are currently paying on them?

I think it means only if you are currently paying on them. I got to thinking and I filed ch7 in 2002, was currently in school and not paying on my student loans. I didn't have to start paying them when it was discharged.

[hopeforus]

That just made me feel SO good. I'm about to go through a divorce. (cry) And we are also in the process of filing bankruptcy. I may need that money at some point. I don't want to touch it if I don't have to... but it's nice knowing it's there if I need to take care of my kids.

[coolmom04]

That just made me feel SO good. I'm about to go through a divorce. (cry) And we are also in the process of filing bankruptcy. I may need that money at some point. I don't want to touch it if I don't have to... but it's nice knowing it's there if I need to take care of my kids.

I'm sorry you're going through a divorce I went through a divorce one year before I filed in 2002, but I didn't have children at the time so it wasn't too tough for me.

I am glad I made you feel better! Now... hopefully we don't find out I am wrong! Maybe some of the more experienced posters will tell us how they translate that piece of info!

[creditgone]

Okay, so I did some research. You still qualify to take out government funded student loans regardless of bankruptcy. Bankruptcy has no effect on the ability to get government loans. Private loans will probobly be a problem because they are private loans. Many people have posted that student loans are not forgiven in BK. That is true but I think the main question was can you still get a student loan after or while in BK.