Student Loan Cancelled???!!!

[arlington]

I enrolled in college a few months ago. About one month ago I filed 13. I already had a student loan from a few years ago that I chose to pay outside of the plan. I now have a new loan that I was approved for before filing. It now appears that that loan was cancelled. I am sure it has something to do with the
13. Has anyone been in this situation and is there anything I can do to get the loan back? I know you can't take out any new loans but my company is reiumbursing me so the loan will get paid.

[HHM]

That's a new one to me.

Do you have any documentation from the loan. Is there any clause about right of cancellation. etc.

[coma]

That happened to me. Citibank cancelled the disbursement upon notice of the filing, but I was able to sign a new master prom. note with them and get my aid back. BK really has no bearing on student loans. You can still get them, but you have to resign paperwork. Contact your lender, and if they won't help contact the financial aid at your school.

[MajorMike]

I had to just sign a new prom. note and had no problems. The odd thing is, on the student loan I had for $6600, it shows now that I owe ZERO. It just shows the current one that was just disbursed. Do you know why that may be?

[MajorMike]

Does anyone know why it would show zero?

[lrprn]

Does anyone know why it would show zero?

No one is really sure how to treat student loans during Ch 13 - that includes the lenders and the three credit agencies. It's a big black hole - a non-secured loan that is not discharged in bankruptcy. Nothing is mentioned in the current bk law about student loans in Ch 13 at all. Who knows what the right thing to put on the tradeline for a student loan account on a credit report is?

The one thing I can confirm is that no matter what the $ amount or code showing on the student loan's tradeline is, the debtor still owes the student loan and interest will continue to accrue throughout Ch 13. Once Ch 13 is over, the student loan lender will be knocking at the door wanting payment.

[MajorMike]

but I thought all interest stopped in a non-secured loan during BK? Also, our attorney said we could pay the loan while in BK if we give up basic necessities to do so...which is definitely possible. I'm going to talk to my attorney about it again. Our 341 is in one week, but on the Judge's schedule, it says our name, the date and CONFIRMATION hearing...