How To Get Student Loan Bankruptcy
We read that student loans are not forgivable in bankruptcy court all the time. That is the truth for 99% of student loan holders who are filing bankruptcy. Bankruptcy courts are not forgiving of student loans. But there have been cases where the borrowers have shown “undue hardship” in repayment of the loans in severe circumstances. One case was of a man who suffered a brain injury and could not work. He filed bankruptcy and the court found that he was not ever going to be able to pay back the loan, much less be able to support himself. Another case cited was of a homeless woman, well educated, but in a situation where she would not be able to pay back the loan. So, unless you are physically unable to work and can not see a foreseeable future to be able to pay back the loan, it is unwise to file for bankruptcy. […]
What Are My Chances Of Getting That Student Loan: Credit Criteria
With so many lending companies out there competing for your business, it's easy to fall into a false sense of security about the requirements of getting a loan. Frequently prospective students are inundated with advertisements of money that sound like they’re giving it away for free. If only this were true! Loan candidates should always remember that with few exceptions (like some federal loans); even the least restrictive program will look at that same set of credit criteria for student loans. […]
Certified Private Loans
Today, as more and more students are going to school, whether it be for the first time or they are going back, it is becoming increasingly difficult to pay for the cost of secondary education. There are many different options, such as scholarships, grants, federal student loans, and private student loans. This article will discuss what a certified private student loan is and whether or not it is a good resource to use to fund your education. […]
Student Loan Default Explained
Student Loan default occurs when the borrower has missed payments. The number of payments it takes to go into default will vary by lender. If your student loans are federal, default occurs after nine months of missed payments. However, with private loans default can occur after missing just one payment. Default can also occur if the borrower’s agreement is violated in any way. This includes starting bankruptcy procedures. As soon as a loan goes into default the entire balance is due at once. The consequences of default can be severe but hopefully this article will show you how to avoid it. […]