School Loans as an Expense?

[CCsAreBad]

Hi,

My wife and I met with a lawyer and gave us a packet to complete that lists assets (we don't have much), as well as Liabilities ($60,000 all credit cards) and our income and expenses.

My question is in Dec. 2005 I have to start paying back my school loans which totals $430/month. If I include this in our expense list, it wipes out all the disposable income we had after all the common expenses. Our rent may also be going up from $1100/month to 1200-1300/month in January/February.

My lawyer will determine whether I am eligible for Chapter 7 or 13 using this expense sheet. Right now without school loans, it looks like 13, but in December I have to pay the school loans which then I won't be able to pay the chapter 13 payment.

Can I list the school loans as an expense now?

Thanks!

[Dawn1970]

Yes. Student loans are not a dischargeable debt, leaving you no choice but to pay them so list them as an expense.

[clean4life]

Hello ,
Im hoping some one can give me some advise. Here is the situation. I recently filed for bankruptcy and was discharged on Dec.29,2004. I included in my bankruptcy a student loan. I was not aware that student loans can not be dismissed when filing bankruptcy all it did was stop the collector from harrassing me for 60 days.The sad part about this is that, yes I did enroll in the school , but I was not stable at the time a single young parent in 1998 who thoght that I was a good decision maker. Signed a promissary note which made me responsible for this debt. The down side is that the school received several checks totaling $10850.00 cashed the checks and filed bankruptcy . No one checked records to see if I even attended the school so long story short I don't know where to begin to fight this situation before they proceed with a garnishment. Here I thought I was getting my life together after a six year battle of bill collectors. If anyone has any suggestions please help. I an on the path of breaking down.

Thanks

[rbrown95]

I read somewhere that if the school filed bankruptcy that the student loans are not enforceable.... don't know if that helps but you may want to research that...

[EdytaHome]

clean4life,
I think you are totaly responsible for the student loans. Sounds like you took out the very max on them this year as well. The school will not want the loans back even though you are not attending school at present. You borrowed so now you will have to pay back with interest.
By the way, you don't have to pay them back right away, aply for a forberance or hardship deferal. This may help you get on your feet and you won't have to worry about payments or garnishment for a couple of years.
Were you paying on the loans before bk???