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What if your student loan was in bankruptcy and then the student loan comes back and say you owe them?

Donald Ward

in Student Loans

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Whitney Matthews on February 3, 2018

Although bankruptcy is a genuine path to get out of debt, that leaves a long lasting scar, and comes at a high price financially and emotionally. The financial impact is severe; of the bankruptcy will remain on your credit report for 7 to 10 years. You should not consider bankruptcy as a simple "quick fix" to all their financial difficulties, but as one of many solutions available to you given your individual situation. In October 2005, new congressional legislation made filing for bankruptcy more difficult and burdensome. A Chapter 13 bankruptcy may result in higher monthly payments and may last longer than an alternative debt resolution program. If you have questions about bankruptcy or are considering it as an option, we recommend that you talk directly with an experienced bankruptcy attorney licensed in your state.


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