Can filing for bankruptcy prevent me from taking out a student loan?
I am going to need loans for my schooling. I am thinking about filing for bankruptcy, but I've heard that you can't include these loans in my file. Is this true? If so, how do I take care of my tuition?
Answered By: Mercado & Hartung, PLLC
The Lender will taking a bankruptcy filing into consideration as to whether to loan money to you. Clearly, a Bankruptcy filing will have a negative impact on your credit score.
Answer Applies to: Washington
Replied: 1/17/2012
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Answer Applies to: Washington
Replied: 1/17/2012
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Answered By: Diefer Law Group, P.C.
You cannot discharge student loans in a bankruptcy but it is important to know that these are still loans and bad credit can hurt in this process. You should consult with student loan companies to see what they look for when issuing credit to make sure a bankruptcy will not hurt you.
Answer Applies to: California
Replied: 12/27/2011
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Answer Applies to: California
Replied: 12/27/2011
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Answered By: The Smalley Law Firm, LLC
Filing for bankruptcy does not prevent you from taking out a student loan. Federal law prohibits discrimination from federal student loans programs based upon the student or potential student filing for bankruptcy. Therefore, you cannot be denied federal student loans based upon your filing bankruptcy. However, please note that generally student loans are not dischargeable in bankruptcy.
Answer Applies to: Kansas
Replied: 12/27/2011
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Answer Applies to: Kansas
Replied: 12/27/2011
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Answered By: J.M. Cook, P.A.
You will have to include these loans in your bankruptcy if you have them when you filed. For the most part, however, they cannot be discharged. Yes, filing for bankruptcy can affect whether a lending institution wants to grant you a loan, regardless of the purpose of the loan.
Answer Applies to: North Carolina
Replied: 12/27/2011
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Answer Applies to: North Carolina
Replied: 12/27/2011
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Answered By: Law Office of Lynnmarie A. Johnson
It is true that student loans are rarely dischargeable (only under very limited set of circumstances). I have had clients obtain new student loans after going bankrupt, after all that frees up more money to pay your loans back.
Answer Applies to: Michigan
Replied: 12/27/2011
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Answer Applies to: Michigan
Replied: 12/27/2011
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Answered By: Dan Wilson Bankruptcy
Your question actually is two questions. 1. Student loans are not dischargeable in bankruptcy. 2. By federal Bankruptcy law you cannot be denied federally subsidized or guaranteed student loans on the sole basis of filing a Bankruptcy.
Answer Applies to: Colorado
Replied: 12/25/2011
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Answer Applies to: Colorado
Replied: 12/25/2011
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Answered By: Lakelaw - Loop Bankruptcy
Almost all student loans will be non-dischargeable and unaffected by bankruptcy. Your ability to take a new student loan, however, may not be impaired. That's because such a loan is almost never affected by bankruptcy. Every case is different and you may need a guarantor depending on the loan and the program.
Answer Applies to: Illinois
Replied: 12/25/2011
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Answer Applies to: Illinois
Replied: 12/25/2011
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Answered By: Heupel Law
It depends on the type of student loan and your financial need. A private bank will not give you a student loan after bankruptcy, but you can obtain a government loan provided you have financial need.
Answer Applies to: Colorado
Replied: 12/23/2011
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Answer Applies to: Colorado
Replied: 12/23/2011
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Answered By: Bankruptcy Law office of Bill Rubendall
Pursuant to section 525 of the bankruptcy code you cannot be discriminated against for student loans after bankruptcy.
Answer Applies to: California
Replied: 12/23/2011
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Answer Applies to: California
Replied: 12/23/2011
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Answered By: The Law Office of Darren Aronow, PC
Student loans will NOT be dischargeable. So if you file bankruptcy, you will still owe for those loans. As far as getting new student loans after filing bankruptcy, they will generally give you the loans since they are not dischargeable anyway, but I always suggest to call the college financial aid department and ask.
Answer Applies to: New York
Replied: 12/23/2011
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Answer Applies to: New York
Replied: 12/23/2011
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Answered By: The Law Offices of Deborah Ann Stencel
Bankruptcy does not disqualify you from taking out student loans. You may have difficulty taking out the loan while your case is active so proper timing of the filing is needed. If you are relying on private loans, you may need a co-signer as would anyone with issues with his or her credit history. Student loans are generally non-dischargable, which means they survive the bankruptcy and you would still need to pay them.
Answer Applies to: Wisconsin
Replied: 12/23/2011
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Answer Applies to: Wisconsin
Replied: 12/23/2011
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Answered By: Sanders Law, P.A.
You can still get student loans after bankruptcy, you just cannot discharge them except under rare circumstances.
Answer Applies to: Florida
Replied: 12/23/2011
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Answer Applies to: Florida
Replied: 12/23/2011
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Answered By: Janet A. Lawson Bankruptcy Attorney
You can get student loans, even if you file for bankruptcy. They are not dischargeable. I urge you to be careful because this debt is a mortgage on your future.
Answer Applies to: California
Replied: 12/23/2011
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Answer Applies to: California
Replied: 12/23/2011
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Answered By: Carballo Law Offices
Student loans are not dischargeable unless you become permanently disabled mentally and/or physically after taking out the loans and you try every opportunity given by the government to pay the loans or request forgiveness of the loans. Filing bankruptcy will not affect your ability to obtain government-guaranteed student loans. Student loans give you the opportunity to obtain an education and must be paid so don't count on ever being able to not pay unless you are afflicted by permanent disease or injury that prevents you from ever making even sufficient money to support yourself and then it will be difficult and expensive to discharge those loans in bankrutpcy.
Answer Applies to: California
Replied: 12/23/2011
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Answer Applies to: California
Replied: 12/23/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: The Law Offices of Kristy Qiu
You cannot discharge student loans but you can take them out after bankruptcy.
Answer Applies to: Florida
Replied: 12/23/2011
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Answer Applies to: Florida
Replied: 12/23/2011
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Answered By: The Stockman Law Office
The bankruptcy may prevent you from obtaining a school loan depending on the type of loan. Go to the finance department of the University or college you wish to attend and find out what loans will still be available to you.
Answer Applies to: Florida
Replied: 12/22/2011
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Answer Applies to: Florida
Replied: 12/22/2011
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Answered By: Law offices of John P. Brooke
It is true that in most cases student loans are not dischargeable in a bankruptcy. You would need to prove an undue hardship in a special proceeding before the bankruptcy judge. With that being said, student loans are mostly need based and filing for bankruptcy shouldn't prevent you from obtaining from obtaining them.
Answer Applies to: New York
Replied: 12/22/2011
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Answer Applies to: New York
Replied: 12/22/2011
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Answered By: Law Office of Michael Johnson
That is a tough question as fed guaranteed loans you won't have a problem but if you require private student loans you may have a problem.
Answer Applies to: Florida
Replied: 12/22/2011
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Answer Applies to: Florida
Replied: 12/22/2011
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Answered By: Ashman Law Office
A bankruptcy will usually not affect most student aid, but making sure you properly address student loans is vital. You definitely will want a lawyer to advise and assist you.
Answer Applies to: Georgia
Replied: 12/22/2011
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Answer Applies to: Georgia
Replied: 12/22/2011
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