Can I put my student loans on a credit card and then file bankruptcy?
Kiro from Mass. asks: I’m over my head in student loan debt, but have good credit and lots of it. I thought up a plan to put my student loans on my credit cards and then file bankruptcy on the cards. What do you thing? Is this a good idea? It doesn’t bother me a bit that the bankruptcy will be on my credit report for 10 years. I’d rather be out of debt completely and then move to another country and start over. If anyone has ever used this method to get out from under massive credit card and student loan debt, I’d like to hear about it!
Categories: Credit Tags: 10 Years, Chapter 7 Bankruptcy, Credit Card, credit card debt, debt, Declaring Bankruptcy, Handy, Interest Checks, Low Interest, Mail, Student Debt, student loan debt, Student Loans
Can student loans be written off in a bankruptcy?
Mathew S asks: I am filing for bankruptcy and have several student loans. Can student loans be written off in a bankruptcy? Or do I still have to repay my student loans? Help! I need some student loan advice quickly!
Student Loan Guru: Under most circumstances Federal student loans cannot be discharged in bankruptcy. Isn’t it convienent the way the U.S. Government set this up? Many times, student loans are the reason many young people get into financial trouble.
Categories: student loan advice Tags: bad credit student loan, bankruptcy, bankruptcy court, Bankruptcy Filing, Bankruptcy Loans, can student loans be written off in a bankruptcy, chapter 13 bankruptcy, Chapter 7 Bankruptcy, Credit, Filing Bankruptcy, Filing For Bankruptcy, student loan bankruptcy, student loan consolidation, student loan repayment, Student Loans