Student Loan Charged off after Bankruptcy Discharge

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Just have a few questions for those that have successfully discharged student loans through a bankruptcy proceeding

(1) Did you try any of the repayment plans that your loans offered, or any reconsolidations before you applied for bankruptcy?

(2) Did the courts try to come after your personal propery i.e. car, home, investments in the bankruptcy proceedings?

I'am glad that I found this post because from what I hear, discharing student loans is nearly impossible!

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This was a private student loan, which I think is the reason why I was able to get it included. I read an article about private vs government student loans and bankruptcy, if I can find it, I will post on this link. Unfornuately I waited three years before filing for bankruptcy because i wanted to pay all my debts off but I quickly realized I wouldn't be able to do it. There's was section in Chapter 7 that dealt with Student Loans and possibly having them included in the discharge. I'm having issues now with them not being reported correctly on my credit reports.

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Here's the article:

http://www.nolo.com/legal-encyclopedia/private-student-loans-bankruptcy.html

[Anonymous]

Thanks for the feedback. Sorry to hear about your reporting issues, sounds like the job of sending off a few challenge letters to the bureaus.

[Anonymous]

Am I reading this correctly, some of your student loans were discharged?

I recently filed for bk7 and 6/20 of my student loan accounts read as 'charge off' while others are open. Unsure if this means that 6 of them got discharged or not. 

[approvedbyme]

Update: after discharge...guess what....the student loans were only frozen until after the bk process...I'm back into repayment status and the balance has thawed out...

[Anonymous]

Unfortunately, you can not discharge your student loans through BK and it doesn't matter if they 're private or government loans.  Congress passed laws to cover all student loans about this.

The only ways you can get your student loans discharged/forgiven are the following:

1.  You're dead and have no spouse or significant other the Dept of Ed/IRS can go after.

2.  You're 100% Permanently Disabled and have no spouse or significant other to support you.

3.  You work for a non-profit, get re-affirmed every year for 10 years and if Congress doesn't cancel the program, you can get the balance forgiven.  Whether or not the balance forgiven gets reported to the IRS as income is up in the air.

4.  You don't pay your loans for 25 years, Education Department forgives your loans but reports them as income to the IRS.

5.  Pay off your loans for however long it takes.   Yes, you can be paying for SLs for more than 30 years. 

6. Join the Peace Corp or teach in bad areas for 5-10 years or something like that.

Just fair warning....