Legal Question in Bankruptcy in Illinois

Private student loans in bankruptcy

I currently have $27,000.00 in Credit card debt and $14,000 in PRIVATE student loans. I was wondering if I file a chapter 7, can I include the private student loans or are they like federal loans that are not allowed to be included


Asked on 6/17/08, 1:22 pm

3 Answers from Attorneys
Michael Perez Law Office of Michael A. Perez

Re: Private student loans in bankruptcy

You cannot discharge student loan in general. I do not under stand yourt term "private". Student loans backed by government funds are not dischargeable. Funds from uncle Lou for school are. I do bankruptcy cases and can help you figure out these issues. Please call me for a free consult. Mike Perez

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Answered on 6/17/08, 1:41 pm
Joseph Michelotti Michelotti & Associates, Ltd.

Re: Private student loans in bankruptcy

No, but you can do a 7/13 and make your life a lot easier

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Answered on 6/17/08, 10:38 pm
John Steele Steele Law Firm

Re: Private student loans in bankruptcy

if the loan is guaranteed by the US govt, they cannot be included

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Answered on 6/18/08, 1:47 am


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