Bankruptcy Forum

School loan deferred??? WHAT?

herekitty
09-26-2005, 07:23 PM
I don't understand this ... I got a letter from one of the colleges I went to and it says this:

Deferment status of student loans for XXX-XX-XXX
Type: 7P/Pen Bankruptcy 7D
From 08/2005 to 08/2006

The eligibility of each loan per your requested deferment is as follows:

Loan Type: Perkins Status: Processed.

I don't understand, I don't have to pay even though my deferment was up as of 11/05? I had planned on paying it back right away ...

StaciMM
09-27-2005, 04:40 AM
BK automatic stay impacts student loans. While they won't be discharged thru the BK, during the process they can't ask for payments.

That is my understanding at least, and I did call my student loan company and confirm that I don't have to make payments right now.

Minera
09-27-2005, 04:43 AM
I did the same, Sallie Mae confirmed that no payments were required during BK, and they also offered me a one year forebearance to get my finances in order.

StaciMM
09-27-2005, 05:06 AM
Just wanted to add-

Of course if you're able you can still send payments.

HHM
09-27-2005, 07:26 AM
This event is common, once you file BK and if you have studnet loans, the student loans automatically go into a deferment.

herekitty
09-27-2005, 08:26 AM
But I have deferment for a whole year or just until my case gets dismissed?