jamcman84 Posted January 22, 2015 Report Share Posted January 22, 2015 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! Quote Link to comment Share on other sites More sharing options...
Clydesmom Posted January 22, 2015 Report Share Posted January 22, 2015 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. Quote Link to comment Share on other sites More sharing options...
Rogue198 Posted January 23, 2015 Report Share Posted January 23, 2015 Hate to be a killjoy but as of 2005, private student loans are no different as federally backed student loans when it comes to discharge in bankruptcy. They require the same "extreme hardship" test to discharge. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.