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How would filing for bankruptcy affect my financial aid for school?

I am getting divorced and am halfway to a BS so I already have some student loans, which are not the problem because they are not in repayment status. it's the debt i'm being left in because of the divorce.

if i filed bankruptcy, how would it affect my eligability for future financial aid?

Answer Question
 
mhaney03

Asked by mhaney03 at 3:12 PM on Jun. 2, 2010 in Money & Work

Level 17 (3,320 Credits)
Answers (5)
  • It will not affect it
    admckenzie

    Answer by admckenzie at 3:16 PM on Jun. 2, 2010

  • no, and you may not be able to get rid of the debt, just an fyi, because if it is still in both of your names he will have to agree and i doubt anyone would agree to that
    DomoniqueWS

    Answer by DomoniqueWS at 3:57 PM on Jun. 2, 2010

  • all i want to know is how it will affect my future financial aid situation, that's it. thanks anyway.
    mhaney03

    Answer by mhaney03 at 4:02 PM on Jun. 2, 2010

  • it wont.
    Anonymous

    Answer by Anonymous at 7:54 PM on Jun. 2, 2010

  • It won't affect your student loans and Domonique is wrong. If you file for bankruptcy he doesn't have to agree to any of it. The debts that are in both your names, will be put "on hold" until you are done with the bankruptcy, and then he will have to pay for it. That is, assuming you have any debts in both of your names.

    Student loans aren't bankrupt able, but you probably already knew that.
    http://www.finaid.org/questions/bankruptcy.phtml
    http://www.allbusiness.com/buying-exiting-businesses/exiting-a-business-bankruptcy/2976054-1.html

    Anonymous

    Answer by Anonymous at 11:12 PM on Jun. 2, 2010

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