how do I qualify to file for personal bankruptcy? what is the amount of debt etc. all criteria?
admin | Mar 30, 2010 | Comments 1
i have a lawyer through work. are school loans allowed to be used to determine ? what about subprime lenders ASTRIVE
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Student loans cannot be discharged in bankruptcy. They must be paid in full.
Since you are working, you will probably be place on a payment plot. By the time you pay all your debts, the bankruptcy court fees, attorney fees, and fees to the Bankruptcy Trustee, your debt load will be far greater than it is now. They will take your income, distribute it to your creditors.
You can budget repayment of your debts yourself and spare yourself from high costs, years of debt repayments and burdens imposed by the court, and a 10-year blemish on your credit report. Annotation that while bankruptcy is only kept on your credit report for 10 years after discharge, it is a public record that lasts longer than you, your children, and grandchildren do. Make going on paying those debts and you will be much better off.