Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

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Student Loans showing IIB on Credit Reports after BK

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  • Student Loans showing IIB on Credit Reports after BK

    I filed a BK back in February of 2013 and it was discharged in June of 2013. I am now in the process of trying to clean up my credit reports. At the time of my filing, I hired a BK attorney and he had me include all of my creditors in my BK (including those that I knew would not be discharged, such as student loans). I am not sure, but it's possible that I might legally be required to include all of my creditors in a BK (at least in my state of NJ). Anyway, as expected, the student loans were not discharged (even though the discharge order from the court makes no mention one way or another, I believe from my research that some sort of adversarial court proceeding must take place before any student loans can be discharged).

    Unfortunately, despite those student loans not being discharged, they show up on my credit reports as IIB. I thought that if they weren't discharged, they shouldn't really be associated with the BK in the first place, although maybe I'm wrong.

    It's possible that the above is the expected way all of this happens (i.e. being required to include all creditors in BK filing, and then having non-discharged creditors show up as IIB on credit reports), but it just seems incredibly unfair that I'm being penalized twice basically with respect to my student loans - once because they weren't discharged, and again on my credit reports where it shows them as IIB.

    If the above is not the way it's supposed to happen, and those student loans shouldn't show as IIB on my credit reports, any information or help is greatly appreciated. I just got off the phone with someone at one of the student loan companies, and he basically told me there was nothing they could do, and the IIB status for that student loan would remain on my credit reports for the appropriate time frame. Specifically, if the student loans aren't supposed to show as IIB, and someone could refer me to some laws or regulations that specify this, it would be extremely helpful since I could then pass this information back to the student loan companies.

    Any help is, as always, appreciated. Thanks!

  • #2
    I'm interested to hear what others have to say as well. Mine are being reported as IIB and aren't reporting my payments.


    • #3
      This is an area where you'll probably hear different opinions about whether it should or should not show as IIB. There are just too many variables. For instance, if it's a private student loan and you were behind in payments, then the loan should probably show IIB as the loan reverts back to the Federal government (as the backer). Some private lenders, after you file bankruptcy, may also revert the loan back to the feds after you file. As least that is my understanding.

      When I filed, I was not behind on my student loans but was in deferment. My loans did not go to IIB and actually show "Current" with payments being reported. My loans are direct unsubsidized and not private student loans.

      You may want to try to find the bankruptcy/insolvency department with your lender and not just speak with a general customer service representative. If your loan was sold or transferred then this may the issue.
      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog

      I am not an attorney. Any advice provided is not legal advice.


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