help

Date: Wed, 04/22/2009 - 16:50

Submitted by anonymous
on Wed, 04/22/2009 - 16:50

Posts: 202330 Credits: [Donate]

Total Replies: 5

help

I have a student loan with a cosigner and am thinking of chap 13. I am filing by myself and the loan is current and will be current until filed. What will happen to the cosigners credit regarding this loan. since its chap 13 would it come up as still being paid during the 5 years of the restructered payment? Any help please????????/

No. They will not come after the cosignor during the bankruptcy

No. They will not come after the cosignor during the bankruptcy stay. However, with some private loans filing BK causes them to default. Once the BK is discharged, the interest is updated and if it defaults, collection activity will begin. If it doesnt default, payments will resume.

lrhall41

Submitted by SOAPLADY on Wed, 04/22/2009 - 17:14

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How would the loan default? Do you mean in BK it could poss def

How would the loan default? Do you mean in BK it could poss default? or during the whole process it could default? Thanks
!

lrhall41

Submitted by anonymous on Wed, 04/22/2009 - 17:36

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I thought the whole purpose of the Ch 13 is so they dont default

I thought the whole purpose of the Ch 13 is so they dont default???

lrhall41

Submitted by anonymous on Wed, 04/22/2009 - 17:38

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Bankruptcy is grounds for default for student loans...they are u

Bankruptcy is grounds for default for student loans...they are under different rules. Recently I have heard of more loans being transferred into default once the bankruptcy is discharged.

lrhall41

Submitted by SOAPLADY on Wed, 04/22/2009 - 18:09

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and Do you have a chance to start repaying after the bankruptcy

and Do you have a chance to start repaying after the bankruptcy or do they go straight to default? Thanks

lrhall41

Submitted by anonymous on Wed, 04/22/2009 - 18:24

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