Can private and fed. student loans survive bankruptcy?
June 30, 2010 by admin
Filed under Student loans
If u took out a huge loan to attend a school and the school turns out to be a scam, left the victim bankrupt and completely broke, via a “trade” school can u declare bankruptcy ? If too much time has passed to file any suits under the statues of limitations, etc. . . Will the loans survive? They have since been sold to another company’s, loan consolidation?
Usually federal student loans are NOT discharged through bankruptcy – you should contact an atttorney though for sure. Good luck.
you have an interesting situation and i do not have an asnwer except to see a lawyer == student loans are not normally cover other wise every college student would file bankruptcy — but with your school going belly up throws fish into the game — good luck!!! please email me and let me know what the lawyer says!!!
As above, federal student loans are not normally bankruptable, however if the school was a scam there may be some recourse for you, contact an attorney.