Can I get a student loan after filing for bankruptcy?
474906
As long as you are not in default on any existing federal student loans, you can obtain new Federal Student loans (Stafford, Perkins, etc.), which don't require a credit check.  You will, however, have a very hard time finding private loans after having filed for bankruptcy and any company that will lend you money will probably do so at a very high interest rate.  I would be very cautious about using the link that the above poster supplied, too (notice how they ask for your SSN before they will send you an informational packet?!).  Apply only with legitimate companies (talk to your school's financial aid office if you aren't sure what's what).\n\nWhether or not a student loan can be discharged has no bearing on your particular situation (so I'm not sure why th first poster mentioned it).  To "discharge" a loan is similar to having that loan "forgiven" or "cancelled" -- it means that the lender is telling you that you don't have to repay it anymore.  This is NOT the case when a borrower files for bankruptcy -- a Stafford loan can't be discharged in a bankruptcy situation.  Even if you're destitute and you file for bankruptcy, you still have to repay this loan.  {Perkins loans actually can be discharged in a beankruptcy situation -- but, again, this has no bearing on your ability to obtain one now...}
1174066
Ok follow these instructions to the "T" this will restore credit nicely.  this information comes to you as a free no obligated gift from me as I was in the same predicament.\n   I  presume that you have endured the bankruptcy 7 year not credit allowed. sometimes that wait can be up to 10 years if you just stand by and do nothing about expediting the process.\n  \n1) sell an item or two, your goal is to come up with at least $600.00. or the more the better(fees &other).\n2) go to a bank(one that you have not done any prior business with and a national bank if possible.\n3) be sure you have all the criteria a bank needs to set up an account IE: ssn, id, at least a part-time job. birth  cert?\n4) deposit 500.00 into a savings acount.\n5) then have that $500.. as secuity because you will be taking out a personnal loan with in the amount of 500.00. You will not need a co-signsor(or at least i did't) as the money you just deposited is their security. their will be a hold by the bank on these funds.\n6) with the $500.00 you recieved as a loan. wait a few days and then go to another bank and use the same instructions. and if they ask if you have other accounts you can now say yes.\n  Do the above with at least three banks,each time you do this you will have in each bank $500.00. along with that you will be lugging this 500.00 around. \n7) ok now you have established 3 accounts. Please read the following importantly:\n hang unto the $500.00 and make the minimum monthly payment on each(recommended), this is ok as the goal here is to regain your credability here . keep track of all transactions.\n8) when your obligations have been fulfilled you now have credit along with $500.00 in each account.$1500.00!\n9) be sure to keep up on all those watchdog master credit rating burous.\n10) And their you go..You now have 3 lines of credit. i have helped\nother people out with the same succsess. be digilant and do not get back into the predicament that got you here in the first place.  \n  Your welcome           bchristo@tds.net
445929
Did the Earth just shake?  Something awful happened, cause we finally got a wise answer from icsowesmemoney!\n\nFact.  You owe $20,000.  \nFact.  You make $800/month\nFact.  If you were somehow able to find $200 in that tight budget, and factoring in interest payments, it's going to take over 10 years to pay this debt!\n\nThe other responders completely ignore your comments on the difficulty in finding a better paying job.  Some day, they will lose their jobs or get laid off, and will discover this fact for themselves.\n\nYou are a prime candidate for filing chapter 7.  You will not meet the "means test" because you don't make enough money to be forced into a Chapter 13 "wage earners" plan.  With no home or car, you have nothing.  \n\nCheck with the local bankruptcy attorneys, and you may even find a program for low income people and get a very low legal cost.\n\nGood luck.  You are in very good company.  Many thousands of other people filed for bankruptcy last year for this very reason.
43474
I would say no. Filing bankruptcy should be an absolute last resort. It ruins your credit for a long time.\n\n$8,000 is really not that much money. Why can't you do something to earn extra money to pay it off? A second job? Babysitting? Something like that.
344728
I helped my girlfriend file a year ago and it was relativly simple.  I've since learned that the laws were changed (and few people know because Iraq/Elections/Missing Persons were the only national headlines.  It' supposed to be exceedingly difficult now, especially if you have any assets that most people would consider protected. \n\nI'll see if I can find some more.\n\n\nMore: "WASHINGTON - The most sweeping rewrite of the U.S. Bankruptcy Code in a quarter- century, making it harder for debtors to erase credit card and other obligations in court proceedings, goes into effect Oct. 17.\n\nAmong the changes made by the new law:\n\n* It sets up a new test for measuring a debtor's ability to repay. People with insufficient assets or income can still file a Chapter 7 bankruptcy, which if approved by a judge erases debts entirely after certain assets are forfeited. But those with income above their state's median income who can pay at least $6,000 over five years - $100 a month - will be forced into Chapter 13, under which a judge orders a repayment plan.\n\nIn calculating income, people filing for bankruptcy may deduct various expenses as defined by the Internal Revenue Service, including food and clothing, and some health and disability insurance expenses.\n\n* People seeking bankruptcy protection are required to take credit counseling courses within 180 days of filing.\n\n* It gives priority to a spouse's claims for child support among creditors' claims on a debtor in bankruptcy.\n\n* The law allows for special accommodations for active-duty service members, low-income veterans and those with serious medical conditions in the new income test for bankruptcy applicants.\n\n* The law supersedes the unlimited homestead exemptions in states including Florida, Iowa, Kansas, South Dakota and Texas that allow wealthy people to file for bankruptcy and keep their mansions sheltered from creditors. The law limits the exemption to $125,000 if the person in bankruptcy bought his or her residence less than three years and four months before filing.\n\n* It also requires billing statements for credit card accounts to include an example of how long it would take to pay off a balance at a specific interest rate if only minimum payments are made.\n\nThe law also makes it tougher for businesses that file for bankruptcy protection:\n\n* The law limits the exclusivity period, the 18-month span during which a company in Chapter 11 has the sole right to propose a reorganization plan. Debtor companies are no longer given unlimited extensions of the exclusivity period.\n\n* It limits the ability of companies to give lucrative pay packages as a way of retaining top executives.\n\n* Companies must decide within 210 days, or seven months whether they will keep or relinquish leases on property.\n\n* Creditors can seek to have a Chapter 7 liquidation filing dismissed or converted to a debt reorganization plan under Chapter 11. "\n\n\nBest of Luck,\n\nArmus
79577
Student loans are basically never forgiven, even for lack of sufficient funds. Even if you filed bankruptcy, you would have to pay them. A loan means you pay back the money. Depending on where you live, you may be able to get a certain amount forgiven by becoming a teacher, nurse, or other needed professions.
392439
If you fail the means test it is still possible that you might be able to file under Chapter 7 rather then Chapter 13 bankruptcy provisions.  If this is not an option you could try credit counseling.\n\nIf you are unhappy with the current bankruptcy law you should let your Federally elected Congresspeople know.
42594
It depends on when you filed bankruptcy and whether or not it has been discharged.  Some lenders help clients get into homes 1 day out of bankruptcy.  You will have to put some money down most likely, but the rates aren't outrageous if you're working with the right people and hopefully the bankruptcy has improved your situation as well as credit scores.  You can probably get 100% financing if you have a 540 credit score.  I'm from the MD area and know that housing there isn't cheap.  Good luck with your search!
907095
Assuming your student loans are currently deferred, the question you should be asking is if you can afford it AFTER the student loans become payable.  \n\nGenerally banks do look at outstanding debt when considering loan to debt ratio but some banks are too willing to lend. \n\nConsider your financial ability after loans are due so as not to get your self into trouble.
1126914
You can get a loan legally speaking, just not a federally guranteed one unless you're a US citizen. That means you'd have to qualify for the loan & you just said your family went bankrupt, so that might be difficult. Also, your visa is probably conditional on you staying in school & may not allow you to work. If you can work & can take a little time off school, there are plenty opportunities where you can save up some money & get back to your education. I don't know how much you have left, but it might be expediant to pick up where you left off at a new school w/o paying the $5000. You won't be able to transfer your credits till you pay them, but you can go on with your education & save up over time to pay them off, then transfer those credits, after you pay them, in time to graduate. Just don't tell them about the previous school when you apply. You can also speak with your financial aid office about helping you find a scholarship.
229683
You would be an idiot to be a co-borrower unless you get some benefit from the deal.  A bankruptcy will affect your credit score, and may even remove you from consideration depending on the rules of the loan.
45270
Nope. The US Government is completely exempt from any bankruptcy proceedings.  You can't claim student loans on there either.
867146
No.  A student loan is federal debt.  You can't bankrupt on it.  They can garnish wages, and take your tax returns if you're delinquent enough.
230522
Actually, not everyone may file a 7 bankruptcy.\n\nYou must be eligible.\n\nA person who has had a chapter 7 discharge within the past 8 years may not file a chapter 7 bankruptcy case.\n\nA person may not file a chapter 7 bankruptcy if doing so is "abuse".  A case is presumed abusive if the person makes more than the national median income, approximately 40,000 for an individual and approximately 70,000 for a family of 4.  If a person's chapter 7 bankruptcy is "presumed abusive", he or she may still be able to file a chapter 7 case if the parson passes a somewhat complex "means test".  The means test determines whether a person has enough "current monthly income" to pay at least $10,000 to unsecured creditors over 5 years or at least $6,000 to creditors over 5 years if that results in paying at least 25% of the unsecured debt.\n\nA debtor must take a credit counseling session before being eligible to file a chapter 7 case.\n\nBankruptcy will discharge all of your dischargeable debts (but not taxes, student loans, domestic support obligations and others).  However, interest rates for a debtor for several years after a bankruptcy will be higher on loans or credit cards
798183
You need to go to http://www.loanconsolidation.ed.gov/\nYou can consolidate the loans you defaulted on, and after you do that you will be eligible for aid again.  You can even take out new student loans.  The process takes several weeks, so you need to get started asap.  I promise you this is the truth, I had to help a friend do the same thing.  Good luck!
852287
In addition to filing your complaints with the state AG's office and the Board of Institutions, if would be wise to contact an attorney as soon as possible.  If the school files for bankruptcy then you will have a relatively small window to claim any reimbursement.  While the likelihood of being reimbursed fully is not great, it grows more and more unlikely if you wait.  Don't wait around for something to happen.  Take some kind of action!
881806
I filed for bankruptcy 4 years ago. I made payments to my lawyer. I couldn't really afford one payment. Some of them will offer a payment plan.check into it