How will debt settlement affect my credit report?
Date: Thu, 03/17/2011 - 15:26
The debt was included in bankruptcy..it is reporting accurately.
The debt was included in bankruptcy..it is reporting accurately. The fact that the debt was non dischargeable is moot.
FYI...student loans dont sell their debts to collection agencies. And they will sue close to the SOL for your state.
I really doubt they are going any lower...in fact I have never seen any go as low as you have been offfered.
That's very helpful. I never knew that they don't sell their de
That's very helpful. I never knew that they don't sell their debts or that they sue close to the SOL.
The "recovery specialist" I spoke with told me she needed to speak to a supervisor before she could go any lower. I'm borrowing the money from my father, so I told her there's only so much I can get. I'm going to offer 11K and see what happens. I don't know if I can get 15K out of him.
I'm a bit confused - if a debt is non-dischargeable, wouldn't that mean that it was not included in the bankruptcy? The woman at the bank said they are required by the FCRA to report the debt as settled to the credit agencies. This makes sense to me. So I'm assuming my "Included in bankruptcy" will change to "settled debt."
OK...so I think that you ought to look more at the PRIVATE loan.
OK...so I think that you ought to look more at the PRIVATE loan. If it is not a government loan than it should have been part of your BK...Look closely at the BK schedule and see if it was. It seems to me that it IS NOT a collectible item. It was in the BK and they cannot still come after you. BEFORE you do anything, make sure. I am thinking it is a discharged debt from said BK.
Here is a link with more info on it. They may just be telling y
Here is a link with more info on it. They may just be telling you you owe it, to see if you will pay it.
http://www.studentloanborrowerassistance.org/bankruptcy/
Sorry but you are wrong. All debts have to be listed on the ban
Sorry but you are wrong. All debts have to be listed on the bankruptcy schedule whether they are dischargable or not. The kicker is that the discharge order states "all dischargeable debts are discharged". Since student loans both public AND private are NON dischargeable, the debt would NOT be discharged. Unless the poster had a special hardship hearing (which costs extra in terms of attorney and court costs) this debt is valid. Believe me, he would mention if he paid the extra costs which last I heard was around $1500-2000..and most borrowers are unsuccessful.