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    krown's Avatar
    krown Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 2, 2007, 06:07 AM
    Bankruptcy on a private loan
    Hello, can I file for bankruptcy on a private student loan?
    Thank you.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Apr 2, 2007, 06:08 AM
    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".
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Apr 2, 2007, 06:24 AM
    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)
    Dabidosan's Avatar
    Dabidosan Posts: 11, Reputation: 1
    New Member
    		  
    #4

    May 13, 2007, 11:29 PM
    Ok. You can file bankruptcy on a "non federal" student loan- which is what you have.
    Miranda's Avatar
    Miranda Posts: 54, Reputation: 5
    Junior Member
    		  
    #5

    May 14, 2007, 10:33 AM
    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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