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How should I handle my loans

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How should I handle my loans

I have $67,000 in student loan coming out of forbearance at the end of December, I plan to consolidate my loans. I also will be filing BK this month an was wonder if I should consolidate now or wait until December after the BK?

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Frequent Contributor

Re: How should I handle my loans

Without knowing more about your finances, it may be beneficial to file when your student loan payments are higher (pre-consolidation?). This MAY help you with showing a limited ability to repay your dischargable debts.

 

Either way, your lender(s) will likely stop payments between filing date and discharge.

Message 2 of 3
Community Leader
Super Contributor

Re: How should I handle my loans

I would agree with poster leoneI9....I would consolidate after you file. The higher payments will help in the means tests to qualify.

My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
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