Personal Bankruptcy Bankruptcy re Student loan

Status
Not open for further replies.

allanm

New Member
I was contacted by an agency trying to collect on a student loan that was taken out back in 1971. The loan was transferred from the bank to the US Dept of Education in 1974. I filed bankruptcy in 1982 but cannot find the paperwork or remember what debts were listed. The attorney I used is no longer practicing and cannot be found. I contacted the courts and they are supposed to be sending the selected documents that I need from their California archives. About $3000 are owed. Based upon the laws then and now what are my chances that the loan was discharged? I keep reading and hearing that student loans are not dischargeable. Is it best just to wait for the documents? I am getting calls now on a daily basis after all these years. Thanks
 
Thanks for your help but...

Thanks for your reply and help on this matter. I looked at the link you sent me and for me the optimum word was "normally". I'm not sure whether it was the year of the loan or the year of the bankruptcy or just luck, but the holder of the loan, the US Dept of Education, Office of Student Financial Assistance was listed as a creditor in the bankruptcy. I don't know if they did not do what they were supposed to do regarding filing or making objections but a copy of the paperwork was fax'd to the collection agency and they replied with confirmation that the debt should have been erased and that credit report agencies will be notified. I'm not sure if this is an anomaly or not, but at least in my case bankruptcy seemed to have taken care of this matter.

Also although I do not have the paperwork to substantiate dates, I recall that around 1999-2000 a co-worker had a similar problem. And his student loan had been resolved via bankruptcy. His loan was taken out around 1983-1984 and his bankruptcy was filed in 1991 or1992. A collection agency was harrassing his mom because she was a co-signor however when we looked at the bankruptcy paperwork, the loan was listed and was paid off through the bankruptcy procedure. So I guess there are exceptions to every rule or maybe mistakes were made both times.
Thanks again.
 
No problem. Glad we could help!
 
Student loan discharged thru bankruptcy

Just as a follow up. The student loan in this case was discharged. The law pertaining to student loans and bankruptcy was changed around 1986-87. Student loans taken out prior to that time can be discharged through bankruptcies filed prior to that date as well. I sent copies of the discharge papers to the collection agency and they stopped calling. So if you're old like me you might have a shot at discharge. All things are right in the world. :)
 
Status
Not open for further replies.
Back
Top