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Question regarding bankruptcy and Student Loans.

Winter Springs, FL |

I have somewhere in the area of $18,000 of debt from student loans I took out in roughly 1996-1998. I made terrible choices and then some more. I am a single mom with 3 dependents, no child support...on food stamps for years and living well below poverty standards. A truly sorry state of affairs I'm embarrased to say.

Recently, I've been offered a chance at salvation. A grant from my county to receive a career training grant. This, I cannot even put into words how this could change my life...and more importantly the lives of my children. Oh, on so many levels.

However, the hold on my transcripts because of the default are going to prevent my attending school. Unless I lie. I don't want that though. Could a discharge be an option for me? How much does a bankruptcy cost typically

Attorney Answers 4

  1. Best answer

    Once you file bankruptcy, the school cannot refuse to forward your transcripts. And if you owe the school directly, it is not a student loan, but a debt that can be discharged. Talk to a bankruptcy attorney, as these problems may be easily resolved. Fees are very local, so you will need to discuss those as well.

  2. Are you sure the transcript is not held by the school for owing tuition to the school, rather than owing the lender on the student loan?

  3. Student loans are extremely difficult, if not impossible, to get discharged in a bankruptcy. I don't believe bankruptcy is the proper route for you.

  4. A loan owed directly to a school (college, or even a private middle school) can be defined as a non-dischargeable educational loan. However, there is a difference between a student loan and, as someone else mentioned, a debt to the school (fees, etc). The first step is fining out exactly what is holding up the transcript. If it is a relatively small amount, it is likely not worth filing bankruptcy over. Although your current situation is not good, the test used by Courts in your state (the 11th Circuit) is essentially a "certainty of hopelessness" for the present AND future. From your post, your future may be looking up.

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