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OK I filed a chapt 7 bankruptcy in 08 and it was discharged, my question is can I file a chapter 13 on a defaulted private student loan, I need some serious advise because Ive called lawyers and they have given me some strange advise, one said just fax my discharge papers to the collection company and I dont think that will work.
so can i put a defaulted private student loan in chapter 13 because I can not afford to be sued or garnished this will cause me to loose everything
help.




Private loans like federal loans are non dischargable in bankruptcy. They can be included in a chapter 13 but once the plan has been completed and bankruptcy discharged, the interest is updated and the remaining balance becomes due. If you were not in default prior to filing, you will be post bankruptcy.

Many attorneys do not understand the laws pertaining to student loan filings.

Sub: #1 posted on Fri, 08/17/2012 - 20:34

SOAPLADY SOAPLADY
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Well I wasnt in default when I filed in 08, the loans just went into default in oct of 2011, and I cant consolidate to one payment, and the collection company offered me a settlement of 30,000 right! as if I have 30g's just laying around, and a payment plan with 4,500 dwn but I dont have that either Ive tried contacting NGT but they keep refering me back to collection. I checked my credit report and it states the it was turned over to the government am now I confused and dont know what to do. I want to make payments but they have closed my online account and I cant make the amounts they want but I can make some payments and I am not being allowed to do so. Is it possible to contact the government since thats where it was turned over to to see if they will set up payment plan, because i really dont know what to do. And why is a law firm calling to collect when NGT turned it over to the government.
The was loan was originally through BankOne who is now Chase bank if that helps.

Sub: #2 posted on Sat, 08/18/2012 - 09:24

sb37 sb37

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Sounds like this may not be a private loan. Either way, the government (Department of Ed) or a private loan guarantor, contracts with private collection agencies and attorneys to collect. Who does the attorney say they are collecting for???

If it is a private loan, you will probably end up being sued. If you file a 13, they will more than likely immediately file a lawsuit against you to hasten collections, especially in view of two bk filings.

Sub: #3 posted on Sat, 08/18/2012 - 15:01

SOAPLADY SOAPLADY
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Well I got the loans through Chase bank which I thought was a private because when I tried to to consolidate to one payment I was told they were private and were not able to consolidate, Im guessing chase sold them to national coligate and trust and they were serviced by ASE which was who I was making payments to until last OCT when they doubled my payment which I couldnt afford, but was still making my reg payment that I had been and eventually closed my online account and sent me to collections.
I just really dont know what to do, I cnt afford to pay for a chpt 13 just was wonder if it was an option and from what you said wouldnt help much either way, I just want to get my loan out of default and avoid garnishment.

Sub: #4 posted on Sun, 08/19/2012 - 07:40

sb37 sb37

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Chase did no sell the loan per se...the filed a default claim with the guarantor.

The only way to get a private loan out of default is to pay it off in full. With the default on your credit, you will never get a private consolidation loan. This is how private loans function....they come with their own set of rules totally different from federal loans. They are under no obligation to offer a payment plan you can afford.

Sub: #5 posted on Sun, 08/19/2012 - 07:55

SOAPLADY SOAPLADY
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