Student Loan Advice

[nk29]

Hello Everyone,

I just filed Ch 13 yesterday, and have a few questions. First of all, let me say that my attorney advised me not to list/include any of my student loans on my list of creditors, so we didn't. So, my question is, if I have student loans (some being federal, some being though the state, but all government backed) that are currently deferred, does anyone have any experience in how they will be reported to the credit bureaus? Obviously they will not be notified of my BK because they are not on my petition, but if they are deferred do they care that I filed BK? Do they bother to list anything differently than "deferred" if they did find out since I have not been in repayment? I plan on paying them as agreed and actually would like to start repaying them soon, but I am concerned about particularly the state funded loan because my dad is a cosigner on one of them. I want to protect his credit, which is why my attorney and I decided against listing the loans. I know with a Ch 13 the cosigner is also protected so I thought my dad's credit would be safe. If anyone has any experience with this situation please advise. I am just so worried about affecting my dad's credit, it is perfect right now and I don't want my problems to bring him down. Thanks very much!

[J Armstr]

I don't know why your lawyer did not want to list your student loans. Maybe someone else can help with that. I filed Chapter 7 and my lawyers said all debt must be listed. I pulled a CR report last week (I am still waiting discharge) and my state/federal student loans were both listed as in foreberance (sp?). When we contacted them, they told us that they automatically put the student loans in foreberance for 6-months when a person files BK. Hope this helps a bit, I don't know other people's experience.

[nk29]

Thanks for the input. Did the report on your student loan mention anything about BK, or did it just say forbearance? Mine are already either deferred or in forbearance anyway so I am hoping that doesn't change. Then again, I am not sure whether what they report will change at all if they are not listed on my petition. I guess only time will tell, I am just trying to put my mind at ease. I am very grateful to my parents for their help and would hate to see them suffer as a result of my financial issues. Thanks again!