Claiming Bankruptcy With Student Loans
Can I get federal school loans while my bankruptcy case is open?
I’m a full time student and plan to file bankruptcy this month. I have $20k due on an auto repossession and $90k due from my heart surgery claims that were denied by my insurance. (I used the car note money to pay for the treatments up front.)
I need to file but I was told that once I submit the petition my federal loans will be cut off until after the proceedings are over. The guy in the Federal Aid call center said that this was true but the people in the financial aid office at the school say that this is not true. They say that since the loans were certified back in the summer that I should still receive the loans for Spring semester.
Does anyone know from experience? I don’t have a lawyer b/c I can’t afford one and with no job, I seriously doubt that I’ll get a lawyer to agree to payment plan
The Federal Aid Call Center is not as accurate in the information that they provide as you think they should be. I suggest making an appointment to meet with either the director or assistant director of financial aid at the college you are attending. Go over your situation with them and have them find you with a copy of the rules where they are confirming that your bankruptcy will not affect your current loans.
In order to file bankruptcy, you will need a lawyer to do so. You will incur some legal fees for filing bankruptcy.
Bankruptcy Questions : How to Claim a Student Loan on Bankruptcy
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