Legal Question in Bankruptcy in Wisconsin

Filing

How does filing for chapter 7 or 13 affect me as a student? Will it affect any current student loans or does it affect the loan application process for more loans?


Asked on 8/09/03, 4:52 pm

1 Answer from Attorneys

Mark Mahoney Cassiani Law Office, Wise Shepherd Law Office

Re: Filing

Hello,

Most student loans cannot be discharged in a bankruptcy. Thus, the bankruptcy will have no effect on them. Also, since you cannot discharge student loans, it does not seem like a bankruptcy should affect your ability to get a student loan, although a bad credit rating may affect your ability to get a student loan, because they may think you will be unable to pay, even if you can discharge them. I am not confident as to an answer to whether it will be affect your ability to get future loans. The best and easiest was to get an answer is to contact several student lenders and ask them. Best wishes, Mark J. Mahoney

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Answered on 8/09/03, 10:28 pm


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