Answers level
Bankruptcy and related issues

Credit cards debts and student loan

Hello experts!

I have about 20K cc debts, and I plan to file bankruptcy soon. Besides that, I also pay a student loan. I stopped paying my cc about 3 months ago, but I continue making monthly payments towards my student loan (just scared that they would garnish my paycheck if I stop).

My question is: will the fact that I am able to make payments towards my student loan affect the judge decision regarding my cc debt? Can this fact fail my case?

Thank you in advance.

Asked on Mon, 01/05/2015 - 19:40
Anonymous
5 Answers

what SOAPLADY means is that once you file and list your student loans the lock box is your payments set but in a different account,and yes student loans can be done thru CH13 CH7 is next to impossible.

giving hope to the hopeless,help to the helpless,and hap to the hapless.
Answered on Tue, 01/20/2015 - 22:37
paulmergel

SOAPLADY, thank you for the answer, but I am a little bit confused regarding this statement "no online payments or autodrafts will stop". Do you mean that I need to stop making payments towards the loan or the judge will order to stop payments? As far as I know, it is VERY difficult to get rid of students loans through bankruptcy. You need to have really solid reasons for that and stop making payments about 3 months before you file for bankruptcy.

Answered on Tue, 01/06/2015 - 08:45
Olga

paulmergel, it is a federal loan.

Answered on Tue, 01/06/2015 - 08:37
Olga

Your student loans HAVE to be listed on your bankruptcy and will go into a bankruptcy status. Your payments will go to what is called a lock box...no online payments or autodrafts will stop. Making these payments will not affect the judges decision.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html
Answered on Tue, 01/06/2015 - 08:20
SOAPLADY

since you really can't do BK on a student loan you should have no problem as long as you disclose full details of the student loan.is this a federal,or private loan?

giving hope to the hopeless,help to the helpless,and hap to the hapless.
Answered on Mon, 01/05/2015 - 23:16
paulmergel

Write Your Answer

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
What is the sum of 8 and 8


About Us | Contact Us | Privacy Policy

Copyright © 2018 DebtConsolidationCare | 301 W. 11th Street Unit E, Reno, NV, 89503, United States
Inter Next Technologies, Inc., Internet Marketing Services, Reno, NV

* Disclosures:

  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  • Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
  • Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  • Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  • The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.

Page loaded in 0.103 seconds.