I have had two financial advisers tell me to declare bankruptcy when I graduate from college, or sooner to eliminate my credit card and school loan debt, and one telling me that I should probably get more financial aid (all from different firms)…. The interest rates on private loans for schools are ridiculous (I am going through Sallie Mae), and I am already freaking out about how much I am going to have to pay back…

I don’t really have any family, and I am currently in my Junior year in college. I have been working full time, and paying my school on my credit cards, apartment etc etc.. (I have 3 with a total of 00 credit line, and they are usually maxed out when new semesters start). I get a little bit of money from the federal government (FAFSA) for school, but it obviously is not enough… I also have a bit of private loans from my grand mother who is co-signing for them.

So should I declare? When if I should?

I am not trying to skeeze my way out of it, and I am fine with paying it all back with the career I get when I graduate, but I am really scared about the whole thing (private loans), and I would like to know if there is an ALTERNATIVE route without having to sell my first born child. The gov. and my full time job do not provide enough income for school and such, and I can only work so much taking an average of 18 credit hours a semester.

If I declare bankruptcy, will it affect my grandmother since she is co-signing?

Please help me out. I am open to all constructive help and legitimate ideas that don’t involve anything illegal.

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I can’t get a new bank, I can’t get a good phone carrier, and I don’t know if colleges take credit into account when giving me financial aid. What should I do?
It’s not for a credit card. I just have bad credit
Well, Jerk, I am in debt. I’m in debt to 2 different banks. I’m in debt to T-Mobile. I’m in debt to my landlord. That’s all.

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I will be filing Chapter 7 bankruptcy soon, and am trying to figure out if the ,000 I owe my University will be discharged. None of the balance is from student loans, or any other type of Financial Aid. It is from past tuition, bookstore charges, room & board, as well some other irresponsible charges to my Bursar bill. Thank you in advance.
To answer the answers below, I am actually in the process of choosing my bankruptcy attorney, but the last one I spoke with wanted to charge me 0 to look up that information, and would not include it in his normal bankruptcy rate.
As for the answer regarding student loans, NONE of the University debt includes any type of loan or other type of financial aid. Thank you for such quick responses though!

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I am 23 years old, in college part time and working part time. I am recently divorced and have about ,000 in loans and credit card bills I got stuck with that were all aqquired during the marriage. Since I can only afford minimum payments (and receive no financial aid) I feel like I should look into bankruptcy.
I have two credit cards, so If I file bankruptcy on just my loans (,000) and one credit card, does keeping the one credit card plus an account balance with Dell (for a laptop I financed) help my credit score at all, as opposed to filing on everything I owe?
And everyone says to do it before I get any older if I’m going to do it. And I don’t expect any new bills (I have a dependable car and low rent) anytime soon.
Sometimes I feel like bankruptcy is "cheating" but I had an extra income at the time I signed for the loans, and of course didn’t expect to get divorced. I feel helpless, as the balances barely go down and i’m spending money I need to live, or I’m going to have to quit school.

Technorati Tags: 23 years, account balance, bankruptcy, college part time, credit card bills, credit cards, credit score, dell, dependable car, extra income, financial aid, laptop, loans, low rent, marriage, minimum payments, spending money