Legal Question in Bankruptcy in California

7 year rule pre-1998 student loans

I filed for bankruptcy in 1997. My student loans were not

discharged because, with forebearances, they were

only out 6 1/2 years.....bad legal advice. We then

started a hardship case, but then dropped it. At the

time of the second hearing, the loans would have been

over 7 years old. Would this have mattered? Also , is

the 7 year rule for all the years in repayment, or just 7

years from the last action, e.g., forebearance?


Asked on 1/31/05, 10:11 pm

1 Answer from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: 7 year rule pre-1998 student loans

The requirement was that the loans had to have been in repayment for at least 7 years prior to the commencement of the bankruptcy case. You already said you didn't meet that requirement. Forebearances and deferrments extend the 7 year period.

Read more
Answered on 1/31/05, 10:33 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in California