obtaining student loans is possible if you show either a discharge or you notify the court for permission and give that to the fin aid office. I was in a 13 and the fin aid office was unaware of how to deal with my bk. I researched and challenged them and they determined they were wrong and gave me my loan after I showed that I was eligible. (alot of faxing). I wouldnt file bk if i were you. though it may be too late because even if you file and withdraw/dismiss it shows up on the CR and has the same effect. In hindsight, I was like you thought it was unmanageable due to the stress, but actually, alot of those places will work out a payment arrangement for pennies. Its sux but easier than having the bk looming for 10 years. Good luck
Starting Score: 479 (TU) 481 (EQ) 508 (EX FAKO) November 2011
I'm sorry to tell you this, but you will not be repaired in two years. First, it stays on your CR for 10 years. Secondly, there are applications out there (like for mortgages) that ask if you have ever filed a BK. You will also be barred from some jobs with a BK. And forget the apartment - they do credit checks.
Good luck with your finances, but seriously consider what this is going to do to you life for a long time.
Bankruptcy should be your last resort. That said, if you do file, it will NOT ruin your life as some would have you believe. You will be able to get credit not long after you receive a discharge. I know this from personal experience. And if you are diligent in rebuilding a good credit history, your bankruptcy will be a mere credit "hiccup" in the long run. While its true that there are some companies who will not hire you, this is a rarity. Again, I know this from personal experience - I am an HR professional and have been in human resources for 15 years. If you do file, the important thing is to start the rebuilding process as soon as you can and to take steps to ensure that you don't find yourself in the situation you are right now. That will probably mean making some sacrifices as you save save save your money (stack that cash!). So when hard times come around again, you have the means to take care of your obligations.
Starting Scores (6/30/2020): EQ 640 | EX 660 | TU 658
I do not think he was near bankruptcy stage yet.