Private student loans are not dischargeable right?

[adviceplease]

I took out a private student loan through Aspire that I could use for bills, food, etc. I thought it was in some way related to Sallie Mae but when I pulled my credit report it says it was through AES/Chase. I think they passed a law a couple years back the protected private loans just like the federal, right? Man would it be nice if that loan went away.

[lovebirds]

It is not dischargeable in 99% of cases. A new law may be arriving soon about discharging private student loans though....*crossing fingers*

[BFH]

It is not dischargeable in 99% of cases. A new law may be arriving soon about discharging private student loans though....*crossing fingers*

That's great to hear lovebirds. I haven't heard about that, could you give me a link? thanks.

[lovebirds]

I can't find a exact story again. I thought it was New York Times or CNN. But here's one I found similar to it: http://cohen.house.gov/index.php?opt...sk=view&id=944

[Amy26]

OMG if they change the law after I was discharged... I'm gonna be so mad.... lol.

[nc73]

Shoot maybe I should wait...10k i owe..

[backtoschool]

Shoot maybe I should wait...10k i owe..

The bill is only in a house subcommittee right now. It is going to be awhile before anything happens. Also, the very powerful banking lobby will fight this, which will delay it further.

[Amy26]

10k? Lucky you... my student loans are over 100k.

[nc73]

10k? Lucky you... my student loans are over 100k.

no that's just the private loan...40k in all

[jonathan]

I suppose it is just wishful thinking that there would be a provision in the bill allowing some sort of retroactive discharge for those of us who filed before the bill...

[leena]

I suppose it is just wishful thinking that there would be a provision in the bill allowing some sort of retroactive discharge for those of us who filed before the bill...

Interesting point. My attorney told me that anything I owed on the date of filing could be added to the BK forever. If they made it legal to file on private loans, I am sure however that they would write in some sort of special stipulation that they could NOT be tacked on to previous bankruptcy filings.