Repaying student loans after chapter 7

[beej]

What is the name of your state? Nebraska

I filed chapter 7, and it will be finalized next month. I have several student loans sitting in default. I'd like to begin payment on them and am financially ready to do so, but it has been years since I have dealt with them, and I am unsure of what is owed to whom. I have found several 'estimations' on various websites of what my loans are, but I am not willing to pay out thousands of dollars based on an estimation.

However, none of the loan holders will discuss them with me because the accounts are showing as 'still in bankruptcy.'

Does anyone know how long this takes? I had filed a 13 before my chapter 7, so the bankruptcy process has been going on for over a year. When I spoke to the loan holder again today, he said that they had received some paperwork on my chapter 7 yesterday but 'there's no telling' how long it will take to process.

i'm anxious to file a FAFSA and return to school. Is there any way I can speed up this process?

 

[Who's Liable?]

What do you mean finalized... You mean your 341 meeting is next month?

After your 341 meeting, it usually takes 60-90 days to get your discharge letter, after that time, you should contact the Student Loan officials...

You may not be able to get anymore student loans, or it may be difficult to get anymore, not because of a BK, but becuase you defaulted on the previous ones you had...

Pray real hard that they give you a second chance for student loans!!!

 

[lostsoul23]

You will not be able to get anymore federal student loan funding while you have loans in default.

As a former student loan debt collector, I strongly suggest you begin the process NOW of getting the loans consolidated. You can do this through places like William D Ford. They will pay off your oustanding loans in full, and that gets them out of default. You will then only owe them. They also give you three different payment options, and, once you get them out of default you are then eligible to put them in forbarance, or, if you get back into school, defer them, and, being out of default will also make you eligible for add'l funds. (A footnote-when you get your "paid" notes from your current loan holders, treat them like GOLD. It is not unheard of for them not to update their records and still say you owe.)

This process will take about 90 days, because you have to provide them with the name(s) of your current loan holders. If you do this right, and get everything done, you should be go to go. Because, bankruptcy or not, if you are in default on student loans they can still collect by taking tax refunds, etc.

Good luck.