Charged-off private student loans, recent discharge (my first posting here)...
Hi everybody,
This is my first post here, and hope I can get some good feedback/information.
My wife and I have private student loans which were originally taken out when we were single. Her loans total $70,000, mine total $30,000. We filed for BK ch. 7 in July, and received our discharge in October. Prior to our filing, all our student loans were charged off in 2008. Obviously, none of the loans were discharged. I am working full time, my wife is a stay at home mom and we're not planning to have her to go back to work in the forseeable future.
My questions:
1.) If I ignore my wife's loans, and she has no income, no assets, and considering she took them out prior to marriage, would *I* be safe from any collection attempts? (I live in CA, we are a community property state)
2.) Now that we're discharged, I would like to consider settling for less than what's owed so we can be done with them 100%. If I explain my wife's situation to her SL lender/collection agency, will they be more willing to settle since they have nothing to really go after?
I've read many posts and fully understand private student loans are NOT dischargeable, at least under our circumstances. If anybody knows or has experience dealing with settling private SL's, I would very much appreciate any information/knowledge you could share with me.
Many thanks,
~ Saffy
This is my first post here, and hope I can get some good feedback/information.
My wife and I have private student loans which were originally taken out when we were single. Her loans total $70,000, mine total $30,000. We filed for BK ch. 7 in July, and received our discharge in October. Prior to our filing, all our student loans were charged off in 2008. Obviously, none of the loans were discharged. I am working full time, my wife is a stay at home mom and we're not planning to have her to go back to work in the forseeable future.
My questions:
1.) If I ignore my wife's loans, and she has no income, no assets, and considering she took them out prior to marriage, would *I* be safe from any collection attempts? (I live in CA, we are a community property state)
2.) Now that we're discharged, I would like to consider settling for less than what's owed so we can be done with them 100%. If I explain my wife's situation to her SL lender/collection agency, will they be more willing to settle since they have nothing to really go after?
I've read many posts and fully understand private student loans are NOT dischargeable, at least under our circumstances. If anybody knows or has experience dealing with settling private SL's, I would very much appreciate any information/knowledge you could share with me.
Many thanks,
~ Saffy
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