Legal Question in Bankruptcy in Illinois

bankruptcy

My 22 yr old niece's college tuition loans through ''Loan to Learn'' have without her prior knowledge become part of a bankruptcy filed by her parents. Now her credit has been affected. Does she have any legal recourse to remove herself from the bankruptcy and assume these school loans so she can pay them off herself?


Asked on 3/28/08, 12:23 pm

2 Answers from Attorneys
Lesley Hoenig Lesley A. Hoenig, Attorney at Law

Re: bankruptcy

These loans can only become part of a bankruptcy filed by her parents if they were the borrowers and/or co-signers. This shouldn't impact your niece's credit rating, and student loans are not dischargeable, so her parents won't cease to be liable if they were liable to begin with. If your Niece is on the loan, she can always make payment arrangements.

If a bankruptcy is showing up on her credit report, she needs to take this up with the credit reporting agency, because she hasn't filed bankruptcy.

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Answered on 3/28/08, 1:45 pm
Michael Perez Law Office of Michael A. Perez

Re: bankruptcy

Sorry but I would need more information. It sounds like te loans are under both prarents' and neices names. If that is th case, she is not in te bankruptcy only her laon is. Since it is joint credit it will affect her. She can make arrangements with the lender to reaffirm her obligation.

please call me for a free consultation.

Mike

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Answered on 5/24/08, 2:02 pm


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