Chapter 7 and Financial Aid

What is the name of your state? Illinois

i want to file for chapter 7 bankruptcy because i am knee-deep in credit card debt and i only have little money from a part-time job coming in.

i am in school and i am getting financial aid: both a pell grant and a stafford loan.

if i file for chapter 7, will it keep me from getting grants and a stafford loan in the future? also, i am getting a financial aid disbursement check of a few hundred dollars. can the bankruptcy trustee take that?

I filed in March '03, had completed my Fasfa for the 03/04 school year prior to filing. I received my discharge on July '03 and received my fin aid package for coming school year in the same month. None of my stafford loans were cancelled or previous ones taking out of deferment. I also received a perkins loan, pell grants and university grants, a university loan and of course the stafford. I never personally informed my school of my filing, but I'm sure they were aware when their loan processor received the notices.

This is my experience only, but I hope this has helped.

[Ladynred]

Filing for BK should NOT affect any future student loans - they are not credit-score driven. A private loan would be a different matter, however.