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Private Student Loan:Served Papers:What Next?

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Any help is appreciated. I was served papers today on a student loan that i obtained back in 2007 for the amount of $22000. To date i owe them $47000. It says i have 30 days to reply to this civil action. There is no way i can pay them back the amount they are asking for. What steps do i need to take to get this taken care of. I have an appointment with a bankruptcy attorney next week. My family and i are terrified. Please help!

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Simply answer the lawsuit with a denial then stop worrying.  If you are filing BK this should wipe it out as long as it is not a federally backed student loan.  Even if it takes you a few months to file and get it done you only need to list this debt and if it qualifies it will be discharges and it shuts down all collection efforts including the lawsuit.

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