I had one student loan through Citibank that I had been worried about going into my bankruptcy, due to some of the horror stories I have heard about them defaulting people and having collection agencies demand payment in full. I had discussed the issue with them during my bankruptcy, and found out that in my case, it would just be put on forbearance during the bankruptcy.
Well, my online access has now been restored, and my first due date post-bankruptcy is November 12, which gives me a break for another month before having to pay. Additionally, I was able to see the first post bankruptcy statement this morning, and my payments will actually be going down by $12 a month. The one bad thing is that it does show 'included in bankruptcy' on my credit report, so it won't actually be helping my credit any when I repay (though I am going to try to talk them into showing payments), but at least I am not dealing with a collection agency and my payments are lower.
I just wanted to post this for others who may have student loans with Citibank to let you know that it won't necessarily go into default. I would recommend looking at your initial loan agreements - that should give you an idea as to whether bankruptcy will automatically default the loan or not. Also, stay in touch with the lender during your bankruptcy - that should also give you an idea of where things will go and give you time to prepare in case it does default due to the bankruptcy.
Well, my online access has now been restored, and my first due date post-bankruptcy is November 12, which gives me a break for another month before having to pay. Additionally, I was able to see the first post bankruptcy statement this morning, and my payments will actually be going down by $12 a month. The one bad thing is that it does show 'included in bankruptcy' on my credit report, so it won't actually be helping my credit any when I repay (though I am going to try to talk them into showing payments), but at least I am not dealing with a collection agency and my payments are lower.
I just wanted to post this for others who may have student loans with Citibank to let you know that it won't necessarily go into default. I would recommend looking at your initial loan agreements - that should give you an idea as to whether bankruptcy will automatically default the loan or not. Also, stay in touch with the lender during your bankruptcy - that should also give you an idea of where things will go and give you time to prepare in case it does default due to the bankruptcy.
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