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How long after chapter 7 until student loans start billing?

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    How long after chapter 7 until student loans start billing?

    My student loan is through FedLoan servicing.
    Chapter 7 completed 24th. I was trying to figure out when they would start billing. I ran across the website that says you automatically get six months from file date before the student loan servicers will start billing again - does anyone know if that's the case?

    #2
    I'm unsure of your information or the source of your information. Generally speaking, Federal bankruptcy loans fall under the "automatic stay" during the pendency of your bankruptcy. That simply means that they can't do anything while you are not yet discharged (or your case has not been dismissed). For Chapter 7s, that means that they can start billing you, and you are liable to pay, as soon as the discharge is entered in your case (or the day the case is dismissed). For Chapter 13s, that means that they can't bill you until your discharge occurs in 36-60 months, or your case is discharged.

    Six (6) month forbearances are usually during periods when you're in school or that you requested a deferment or a forbearance.

    Having wrote that, my experience is that the federal loan provider attempts to calculate the discharge in hyour case, and puts a date, into the NSLDS (national student loan data system) -- and reporting to credit bureaus -- an deferment/forbearance date this is in the future. Mine was scheduled several months after my anticipated discharge, but I think that once I was discharged (in the Chapter 7), they revisited the deferment.
    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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      #3
      I was about to pose this same question. For what it's worth, I'm also waiting on FedLoan Servicing to start billing again. My Chapter 7 was discharged 12/14/18 and closed 12/28/18. When FedLoan started reporting a zero balance during bankruptcy forbearance, my credit score took a huge drop, so I'd certainly like to see them reporting again. I'd love to see some more people chime in on their experience with this.

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        #4
        Update: My chapter 7 was completed Nov 26 (slight correction to the date I mentioned in the original post) and I just got an email saying my administrative deferment had ended and my payment is due this month.
        So not a lot of notice there! I am wondering what it will do to my credit score once it reports the balance again and shows it as being in repayment.

        Comment


          #5
          There is no way to tell how it will affect your score. The reason it "helped" in the past was that it is an installment loan and having an installment loan (recently) is a plus when determining your overall credit profile.
          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.

          Comment

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