Loan Consolidation during BK

[Imagine77]

Hello everyone,

My grace period for my student loans will be up in two months and I just filed BK on Oct.12. I am allowed to consolidate my student loans during BK???

[StaciMM]

The BK automatic stay impacts your student loans also. Contact the lender-they have probably put you on a 3-12 month deferrment if they have already received your BK notice. (Mine put in a 6 mo deferrment, I've seen others post that they've been deferred for up to a year.)

[concerned]

There are also unemployment deferments if you are not working when the bk deferment expires. Forbearance is still another option. Forbearance should be requested again, after the bk deferment expires and is for if you have some income, but not enough to make your payments.

[stevie2012]

Unfortunately, you won't be able to consolidate your loans during bankruptcy. The DOE won't allow us (I actually do consolidations for federal/private education loans).

Good news is, once your BK is discharged and updated in the NSLDS, you will be able to consolidate

[Imagine77]

Thanx guys for all the info