I'm not asking for your opinion on wether or not private student loans should be allowed to be written off in chapter 7 bankruptcy.
I'm asking what is the liklihood that it will be an amendment anytime soon?
I'm curious because the democrats voted for that very amendment in Februrary 2008. Republicans voted against it overwhelmingly and were the majority so it was removed.
No they should not be allowed to be written off.
I would have tried to become a doctor then…because I would have just taken out massive loans and then declared bankruptcy.
I can't believe it was even considered.
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I need to file bankruptcy within the next 3 months. The only problem is all of my past due student loans. Can I file chapter 13 on those or are the exempt all together?
Nope… My sister is a Paralegal. I asked her the same thing just a few days ago.
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and 5k is a high interest personal loan. I also have a 500 secured credit card w/ zero balance. At the moment my credit score is 650 I have 2 charge offs that will be off in Dec 08. Will my score go up significantly once the charge-offs are gone?
Of course it will. Charge offs suck. They kill your credit score. Expect your score to go up significantly if you keep paying your bills.
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My federal student loans are deferred due to being in a graduate program half-time and would like to buy a condo closer to my university. How long must a loan be documented as "deferred" before a lender will not consider this in the debt-to-income ratio. A coworker's lender (a large bank) did not count the Plus student loan she took out for her daughter due to her daughter being a freshman with an anticipated graduation date three years out. Affordability and a down payment is not an issue. Does anyone know the answer to this specific question? Thanks!!
Your question is way too difficult. I need to know the state you are in the lender you were talking too etc.
All lenders have different guidelines and they change per state. Your question is impossible to answer. It will be different for every lender for every state.
If I would have to throw out a dart, 3 years. They wont count it in 95% of the cases. But in 10% of the time lenders wont count it in one year. I had a list when I did these and still do. I underwrite my own files and I say okay this? Cant go to these 50 national banks, but it can go to these 10 (same rate same price).
You need a really good broker to check all the options in your state. Good Luck I wish you well.
If your broker isnt approved with at least 50 lenders keep checking.
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you are asking quetions like this and you are a law student.i wont be asking you to be my lawyer bbbbuuuuuurrrrpppppp
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