Anyone with experience with Chapter 13 and student loans?
Question:My lawyer said it would be ok to hold off on paying while in bankrupcy...now it is completed..and Sallie Mae sent the account to their bankrupcy dept supposedly and they said that was okay and that wait until a new payment book is sent? Still no payment book and I don't really have the money to pay on it...what will happen? Does anyone know?
Student loans are no longer discharged in bankruptcy and the responsibility for chosing a major in which you can be employed it up to you. Student loans must be repaid even if you are not employed in your field. If you haven't gotten a new payment book from Sallie Mae yet CALL THEM. It is up to you to be on top of these loans or you will default all over again.
No bankruptcy will erase student loans
once your bankruptcy goes through, Sallie will tell you that you have to begin repayment. The only was to discharge a loan is by death, total and permanent disability. You may qualify for deferment or forbearance until you are ready to pay back the loan. Ask Sallie Mae about asap.
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