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FreshStart4Me
Posts: 41
Registered: ‎12-07-2010
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Should student loans report as IIB even if they are not included in BK?

My BK was filed in 10/10 (ch7) and accounts are slowly but surely converting over to IIB status...

 

One thing that took me by surprise is that one of my student loans (Chase, private) is now reporting as IIB. 

 

I thought that student loans are not dischargeable - but I'm not sure if (like my mortgage) they are supposed to report that way.

 

The thing with this particular loan is that it was a private student loan where Chase just sent me a check (not my school).. I wonder if that makes a difference? 


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carolina98
Posts: 90
Registered: ‎11-12-2010
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Re: Should student loans report as IIB even if they are not included in BK?

Private student loans are not dischargeable. I have one with Wells Fargo. It sent me a check too. I haven't filed BK but consulted 2 BK attorneys and both say all student loans are not dischargeable. I've read a lot on it too and everything says not dischargeable unless you're physically disable.  A bill has been introduced in Congress to change BK law for private student loans and make them dischargeable in BK, but it may not go anywhere and the bill simply die. But even if it was passed,  people who have already filed BK would unlikely benefit by it.

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Creditaddict
Posts: 20,183
Registered: ‎10-23-2007
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Re: Should student loans report as IIB even if they are not included in BK?

 


FreshStart4Me wrote:

My BK was filed in 10/10 (ch7) and accounts are slowly but surely converting over to IIB status...

 

One thing that took me by surprise is that one of my student loans (Chase, private) is now reporting as IIB. 

 

I thought that student loans are not dischargeable - but I'm not sure if (like my mortgage) they are supposed to report that way.

 

The thing with this particular loan is that it was a private student loan where Chase just sent me a check (not my school).. I wonder if that makes a difference? 


I have been fighting for almost 4 years to get my student loans to not say "included in bk" but I have been told that they are reporting correctly even though they were not included in the bk and I never stopped making payments on them and even though 2 of them were paid off before i even filed bk!!!

 

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