Legal Question in Bankruptcy in Tennessee

What I can file?

I have to personal school loans from Wells Fargo that total around 22,000 and a few credit cards that total around 4,000. I know that the credit cards can be filed under bankruptcy but I was wondering about the personal school loans. Any advice would be helpful. I did try to consolidate the two loans from wells fargo and they turned me down because they were personal school loans. Thanks

Michael


Asked on 1/30/04, 4:15 pm

1 Answer from Attorneys
James R. Becker, Jr. Becker Law Firm

Re: What I can file?

Usually the answer is going to be you cannot discharge in bankruptcy student loan debt that is guaranteed by the federal government. However, from your description (including the refusal to consolidate) it seems likely that these loans do not qualify for that treatment. Therefore, it seems likely that they could be discharged in a bankruptcy.

In any case, you will need to discuss this with a debtor's bankruptcy attorney who can provide you with more detailed advice. When you go to meet with the attorney, be sure to take any and all documentation you have of the loan, including the original loan paperwork if you have it.

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Answered on 2/03/04, 3:02 pm


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