Question regarding studen loan rebate

[rbaronex]

Hi all,

My spouse and I are in our 5th month of a BK 13 (not confirmed yet) and my spouse just received a check for $4100.00 dollars from his studen loan agency. That money was already added to his loan amount of $40k, but this portion was not used. The student loan payments of $100-$150 per month will be due soon, and our BK or budget doesn't alow us extra money to taackle that. We would like to put this towards those payments, plus, we just had the house A/C go out and will cost us $1300.00 to repair. We have three kids, live in Phoenix, AZ and need A/C badly. I just want to go ahead and deposit this into our checking, without even mentioning this to our atty handling the case (what a dip). We need this badly, and canot afford to give this up to any damn creditor because it will effect our livelyhood. Thi smay also be referenced as "Financial Aid Refund." However, it is a loan or money that has to be paid back.

Has anyone faced a similar situation as such? Any comments would be appreciated..

Thanks,

rob

[lrprn]

Rob, I'm going to say what you hope I don't say.....you need to contact your lawyer about the $4K your spouse received from his student loan lender.

Since you're in Ch 13, the student lender(s) should have placed your spouse's loans into deferment as soon as they received notice you filed Ch 13. No SL payments have to be made after you've filed through the life of your plan (although the interest continues to compound). Your automatic stay makes it impossible for the student loan lender to demand a payment.

Was this student loan lender listed on the creditor list when you two filed?

[catleg]

And I'll give my standard advice here: loose lips sink ships :-)

It all depends on how urgently you need the ch13 discharge and what risks you're willing to take along the way.

[rbaronex]

Thanks for your reply.. This is actually a goverment/federal student loan and the last of any payments due to completion of school. It is to be applied towards supplies/books/tutoring to get you past the last semester. And yes, it was on my creditor's list, since all had to be disclosed.

Thanks again....

-Rob

Rob, I'm going to say what you hope I don't say.....you need to contact your lawyer about the $4K your spouse received from his student loan lender.

Since you're in Ch 13, the student lender(s) should have placed your spouse's loans into deferment as soon as they received notice you filed Ch 13. No SL payments have to be made after you've filed through the life of your plan (although the interest continues to compound). Your automatic stay makes it impossible for the student loan lender to demand a payment.

Was this student loan lender listed on the creditor list when you two filed?