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Mom Confessions Mom Confessions

My sister filed for bankruptsy to get rid of her student loans

Anonymous
Posted by Anonymous
  • 235 Replies

I had always thought it wasnt possible but apparently it is if you claim undue hardship. It is hard to qualify but my sister did and filed so she could get rid of the nearly $100,000 in loans she had

Posted by Anonymous on Mar. 20, 2014 at 6:10 PM
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Replies (1-10):
Decker
by Silver Member on Mar. 20, 2014 at 6:15 PM
1 mom liked this

I was told that if you fall below the proverty line for 3 years they will forgive them. I COULD be wrong about that though

briellesmomma
by Velvet on Mar. 20, 2014 at 7:27 PM
4 moms liked this
Oh god I want to try it.
Anonymous
by Anonymous 2 on Mar. 20, 2014 at 7:28 PM
I didn't think you could. As long as she really couldn't afford it...I'm sure it's a relief.
Anonymous
by Anonymous 3 on Mar. 20, 2014 at 7:35 PM
1 mom liked this

It is possible but very difficult. She has to be trying to make good faith payments. She also will have to prove it will hurt her to pay them back. It isn't the norm for them to be dismissed. If the hardship isn't filed correctly it is too bad and so sad.  My husband is a bankruptcy attorney he said one in twenty five go through.  He said the clients that are successful in getting student loans discharged actually are more likely to have trouble getting a car loan or a house. 

BobKitten13
by Gold Member on Mar. 20, 2014 at 7:38 PM
Oh wow i didnt think you could do that. Df has to file before i will marry him, yes he knows this. How would he even go about? Or where would he start?
justpeachy71904
by peachy on Mar. 21, 2014 at 6:36 AM
You can't file bankruptcy *

Although some agencies will forgive you after 20+ years of being indigent.
Anonymous
by Anonymous 4 on Mar. 21, 2014 at 6:38 AM

 hell wish we could  we keep deffering.  we also have 100,000+

Anonymous
by Anonymous 1 - Original Poster on Mar. 21, 2014 at 6:39 AM
Sorry for the typo I didn't even notice Lol

She did file for it with the rest of her bankruptcy. It hasn't been 20 years

Quoting justpeachy71904: You can't file bankruptcy *

Although some agencies will forgive you after 20+ years of being indigent.
mommyof11050307
by Platinum Member on Mar. 21, 2014 at 6:42 AM
2 moms liked this
What degree did she get or school did she go to that she had to spend that much?
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happynewyorker
by Silver Member on Mar. 21, 2014 at 6:45 AM
1 mom liked this

WOW that's news to me!!! I heard they gave that up in the 90's because people were filing for bankruptcy to get rid of paying for the school loan.

But why do that she wont get credit cards, buy a house, car without a co-signer. 

I filed for bankrutpcy over 30 years ago because I couldn't pay off my medical bills.  at the time I did it the law was 7 years until I can get credit. Now it's 10 years. 

I hope ur sister learns to save her money. 

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