Legal Question in Bankruptcy in Maryland

Bankruptcy and future student loans

I am thinking of filing bankruptcy because my credit card company won't work with me during my unemployment (< 1 year, due to injury and disability). I am not receiving any form of income such as workman's comp, or social security. I am only 24 and still need to finish my college education via student loans. i have not taken out a student loan yet, but will need to in the future. if i file for bankruptcy and it is accepted, will i be able to receive student loans or scholarships to finish my education. if not, how many years until i will be able to receive a loan?


Asked on 3/02/98, 4:54 pm

2 Answers from Attorneys
Daniel Press Chung & Press, P.C.

Bankruptcy and future student loans

Section 525 of the bankruptcy code prohibitsgovernmental student grant or loan programsand private lenders of government-guaranteedstudent loans from denying student loansbased on a prior bankruptcy of the borrower.So don't worry -- they can't consider it.

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Answered on 3/04/98, 7:22 pm
Brett Weiss Brett Weiss, P.C.

Bankruptcy and Student Loans

The Bankruptcy Code prohibits discrimination in student loans on the basis of a prior bankruptcy.

We handle a lot of bankruptcies in Maryland. If we can help, please feel free to give us a call at (301) 570-8976.

Take care.

Brett

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Answered on 3/04/98, 9:53 pm


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