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very convoluted legal issues affecting me


drtaco
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Background: medical doctor with STUDENT LOANS and CREDIT CARD DEBT in OREGON

A

student loans: due to horrible circumstances i have lost my ability to earn and have lost my medical license, my home, wife, kid, etc..

original creditor is not sunrise services, arrowood indemnity group/tuition guard, ltd and davis galm law firm..

->30 days have passed since notice of default was issued to me

-they are willing to accept payments that I can't afford even though at the time I thought I could.

-they have issued "confession of judgment" for me to sign

-at this point I am ready to ask for a debt validation

--is it too late and pointless

-it is medical school debt/loan, can I file bk and get them off my back?

-what are my options with them?

B

Credit card debt-OC is capital one, DC is suttell and hammer in oregon

-is it allowable to receive a summons (confirmed by court) that includes the "this is an attempt to collect a debt..."?Seems to me that, though confirmed by the arbitration clerk as being a valid summons, that the government legal document templates should not be used to help a dc collect a debt.

-is it too late to demand debt validation?

-the clerk at the court said that the case would go to arbitration and in arbitration only identities are confirmed.

--what is arbitration

--how can i resolve this without going to court for arbitration or anything else?

--if i go to arbitration, what opportunities do i have at that time to make my case since this debt has never been validated to me (though I am in the process of doing so now)-does the dc have to comply with my demand since its past 30 days?

Aside from wage/tax garnishments and credit scores (all things I dont really care about since I have lost everything now), how can a judgment negatively affect me? What is a judgment?

Aside from bankruptcy, how can mitigating circumstances help me avoid paying an unreasonable monthly amount or an amount greater than what i allegedly hold?

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Student loans are not usually discharegable in a BK...meaning that if you file, they may not go away. They can be discharged if you can prove a hardship...but that will depend on the following:

1.you cannot maintain, based on current income and expenses, a "minimal" standard of living for herself and her dependents if forced to repay the loans;

2. circumstances exist indicating that this state of affairs is likely to persist for a significant portion of the repayment period of the student loans

3. you've made efforts to pay on the loans in the past.

As far as the CC debt goes, it is fully discharegable in BK.

Also, if you have been sued, it is way, way too late to demand debt validation.

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what about debt validation for the student loan where they are asking me to sign a confession of judgment?

First, never under any circumstances ever sign a confession of judgement. You are likely past the 30 day window to send a DV.

Without going into details if you are unable to earn an income, contact the Dept of Ed about Student Loan discharge. You may be able to find it on the web. I know also that many large student loans (i.e. medical school) have private loan components and parts of those are dischargable in BK.

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