10 yrs. ago i received a pell grant and student loan for cosmetology school. the loan has been in collections for years. i know how irresponsible ive been. however im not financially capable of resolving the after-math. im thinking bankruptcy, would that put me back to a place for a second chance at college? any ideas or alternative options?
I’m 20 years old, 21 in July.
I currently have about 10k in debt—I know it’s not a lot, but I also know I’ll never be able to pay it back.
I had–NO CHOICE–but to move out on my own at 18. I survived off of 4 credit cards for a while and was paying them when I had a "normal" job.
In the past year I have been laid off, I now work for tips at a hair salon which gives me enough money to live but not pay my debt.
I also have about 2.5k that is due to a college I was going to…and 1.75k to Washing Mutual because I fell for one of those money order scams a few months back–whats even worse is that the person that scammed me was using a stolen idenity so I can’t even go to small claims court. I have reported the scam to the government but they can’t help me.
So my question is…Should I file Bankrupcy? I already can’t use my bank account so not being able to do so won’t be a major shock.
In addition, my bank account which is now closed due to the scam, was joint with my boyfriend..My account, I added him later…if I file, will it clear the bad account from his name?
Thanks to those who answered, but it seems you are not getting the point.
Everyone keeps telling me to pay it off slowly, NOT POSSIBLE. AS I SAID:
I make enough money to pay my rent and my ulilities, nothing more.
I can’t file a FASFA because my father chose to claim me on taxes although he doesn’t support me, I’m not about to sue him though or report it.
Secondly, telling me to sell my 6 year old computer isn’t going to get me jack.
Third, ITS NOT A STUDENT LOAN. I would have said it was a loan.
AND…..
AS for the scam, I was between jobs and was told I was working for a charity, being that it was around the holidays I was caught up in the whole holiday spirit and thought I was helping children. I am not one to sit on the internet all day and had no idea that this was such a common thing, I thought I was working.
If a graduate student files bankruptcy ch 7 or 13 how it will affect his ability to get a student loan for next year?
I am a student. I’m currently 000 in debt, should i file bankruptcy?
i am so worring because if it would effects to get my future student loan. Please help..!!
here is my current debth list:
credit card: 00
student loan: 00
collection debt: 00
difference on a car repossession: 000
I am filing for bankruptcy and I was wondering how this would affect my school. I just took out a student loan a couple of months ago and enrolled in college. My loan is not due until I graduate in 2 years. If I claim this in the bankruptcy will it affect me going to school?
i do not, nor have i ever, used credit cards. i do not use a bank. my husband has been out of work since november. he can not find anything that would support us and our two small children. we have hospital bills, outstanding power bills, cable bills, we have almost 16,000 worth of his student loans for college that he didn’t ge to finish b/c he ran out of money and had to drop out. i got 2 tickets last month for not having insurance or a tag (it was at a mandatory checkpoint). i cant count all of our bills. he had a great job lined up to start on monday and we got a letter in the mail yesterday saying that his job offer has been withdrawn b/c of a bad driving record (2 tickets in the last 4 years). our tax refund, which would have been almost 6000 was taken from us by the dept. of education for his student loan. it would have gotten us back on our feet until he got a job. what do we do? i’m so depressed. we need help. we have food stamps and F.A. 5 per month – any advice would help
we have been relying on my family’s help for rent and power payments…but their help and support is running out…i honestly dont know what to do.
i know it’s never a good time, but what do i need to do in order to file for it? this is something i thought i’d never have to face, yet here i am. and do i need to file separately or jointly?
this is concerning a thirty year old student loan, and for the most part medical bills
Ok, here is my situation.
When I was 19, I was stupid enough to let my family get a house under my name under one of those "liar loans" (the ones where they falsify tax returns to make it seem like you earn more than you actually do. The house was under two loans, I lost the house to a foreclosure. I had a car that I was not able to keep making payments on, it was repossessed. I also had a credit card that I was not able to pay back. It was also closed. (I actually had two, but I was able to pay one off)
I currently have only a pickup truck to my name.
What do you guys think I should do? Should I file for Bankruptcy? What about the foreclosures and repos? How long do they stay on my credit? And the credit card….I can probably pay that one off. (it’s in collections)
I honestly have no idea what to do. I also have a student loan i’m having trouble repaying, but I already know those are exempt from bankruptcies.
I need help…bad. Guys any advice you can give would be greatly appreciated. I realize I was living beyond my means and ultimately this is MY fault. But I want to make things right again. Thank you for your time, I know this was a very wordy question.
I am a single mom, own a house, my son’s father is not paying a penny, and I just lost my job. Obviously, I can’t afford to paying my mortgage any more. So what can I keep when I file bankruptcy in CA? I have some 401k, a car, 30K of credit card debts, and student loan, no savings…
i know a student loan is rarely discharged in bankruptcy, unless it would cause an undo hardship to repay or if the student loan went into default 7 years prior to filing bankruptcy. Both of these situations apply to me.