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-   -   Bankruptcy on a private loan (https://www.askmehelpdesk.com/showthread.php?t=78346)

  • Apr 2, 2007, 06:07 AM
    krown
    Bankruptcy on a private loan
    Hello, can I file for bankruptcy on a private student loan?
    Thank you.
  • Apr 2, 2007, 06:08 AM
    ScottGem
    No, you cannot file bankruptcy on a specific debt. You either file on all indebtedness or none. Generally Student loans are not dischargeable, so it depends on what you mean by a "private loan".
  • Apr 2, 2007, 06:24 AM
    Fr_Chuck
    As Scott already mentioned, when you go "bankrupt" you have to include all your debts, all the credit cards, all the loans, not just name one loan.

    As a general rule student loans can not be discharged in a chapter 7 bankruptcy. But if this was a loan that was a personal loan, or from a person that you used for education, it may be.

    Your best option is to go to a bankruptcy attorney and talk to them, normally the first visit is free ( but always check)
  • May 13, 2007, 11:29 PM
    Dabidosan
    Ok. You can file bankruptcy on a "non federal" student loan- which is what you have.
  • May 14, 2007, 10:33 AM
    Miranda
    Dabidosan,

    I am curious where you are getting this information? And if this is true, where do I go to get it discharged? My lawyer and several other lawyers I have spoken with told me that the new bankruptcy laws that went into effect last October made it so that you cannot file bankruptcy on private student loans anymore.

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