Parent Plus Loan

[16 Tons]

So, I am definitely filing. Have interviewed with several lawyers but have not retained one yet. The consensus is that I should wait until Feb, spend my tax return and file. One seemed to think that because I have 24k on one card that they (cc) may move faster and that I might have to file sooner.

I stopped paying cc in August 08'. However, I did have a Parent Plus loan that is currently going through and will be disbursed on 9/15. Does anybody know if this will cause a problem since I stopped paying cards before this (parent plus loan) went through? Will the cc object because I took out a loan after I stopped paying them? Sorry for the long winded story. Any thoughts appreciated. Hopefully, I am not screwed.

[lrprn]

However, I did have a Parent Plus loan that is currently going through and will be disbursed on 9/15. Does anybody know if this will cause a problem since I stopped paying cards before this (parent plus loan) went through?

A Parent Plus loan is a student loan that will be used to pay for some/all your child's college expenses. Since it's a government student loan, even though you are not the student, it still cannot be discharged in bankruptcy. (I know this because we are dealing with $22K of Parent Plus loans ourselves.)

You'll be paying this Parent Plus loan back in full with interest once your Ch 7 is discharged and closed. Not paying your cc's will have no impact on this non-dischargeable student loan.

[16 Tons]

What I am concerned about is the cc objecting at 341 or later and saying that I took on more debt after I had already missed 1 payment with them.

[16 Tons]

lrprn, I know the feeling. We too have about 30k in Parent Plus in deferment right now. This one of the many reasons that I am filing. In retrospect, perhaps I would have done the college thing different. Too late now though.