I owe around $80,000 in 3 student loans. I was pay

I owe around $80,000 in 3 student loans. I was paying on them each month until I filed for bankruptcy in 2009. My Lawyer said since they were private loans they would go in the bankruptcy. They didn't and I couldn't afford the back payments on them after the bankruptcy. Now I have a company saying I have to pay $13,000 now to pay for back interest and I can pay $360 a month. I do not have a savings and I do not have even $1,000 let alone $13,000 and they are not willing to work with me. What do I do?

2 Answers

Neither private nor federal loans are dischargable in bankrutpcy.  Your attorney was very wrong.

http://www.finaid.org/questions/bankruptcyexception.phtml

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

Aimee,

This doesn't make sense. If these loans were not government-sponsored, but private, why were they not included in the bankruptcy. I think you need to get some answers from your lawyer here. There's definitely a piece of the puzzle missing.

Good luck!

Marie Megge

http://www.debtconsolidationcare.com/companies/donaldson-williams-inc/

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