I have student loans that are not from the goverment they are from provate lenders like a bank can they be erased by filing for bankrupcy? If so does anyone know what the downside of bankrupcy are like do they take your car or granish andy wages or taxes?
2007-06-17 04:54:20 · 6 answers · asked by Bobby H 1 in Business & Finance ➔ Personal Finance
no.
2007-06-17 08:44:38 · answer #1 · answered by heybulldog 5 · 0⤊ 0⤋
With the new bankruptcy laws you will still have to pay them, less per month, but the interest rates remain, and your credit will be ruined for 10 years, which is how long a bankruptcy remains on your record. If you are temporarily having a problem call them up and see if you can get a forbearance for 6 more months, that will not affect your credit rating
2007-06-17 05:53:31 · answer #2 · answered by Pengy 7 · 0⤊ 0⤋
No.
What it will do is you not have to make payments on the Student Loan during the Bankruptcy. AND, the loan will continue to accrue interest! Once you come out of Bankruptcy you will then get a repayment schedule.
2007-06-17 05:03:31 · answer #3 · answered by Snaglefritz 7 · 0⤊ 0⤋
Oh ok... I got this for you...
better check on it... Im pretty sure you'll discover something
http://www.studentloansmadeez.com
2007-06-17 10:37:23 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Go to: http://www.studentfinancialadvisors.com They may be able to help.
2007-06-18 05:09:34 · answer #5 · answered by jenn11989 2 · 0⤊ 0⤋
i dont think so.
2007-06-17 04:58:13 · answer #6 · answered by Anonymous · 0⤊ 0⤋