Student loan payments resume.

[jennga]

Less than one week from my official closing of bk, I get two emails from SallieMae, student loans. My payments have to resume rather quickly, due in two weeks. I wondered what would happen and how soon. Really got very little notice, good thing it is not a very high payment.

[lostsoul23]

If you don't send them payment, they can go into default very quickly and it's a very big mess.

You can call and request a forebarance, see what happens. If you are already in default, I'll pass on info to get you out of it.

Let me know.

[sunshine08]

I kept paying my student loan payments, didn't know I wasn't supposed to, but they showed "Default" under the status. I called them and was told very snippedly, well you filed bankruptcy. Now it shows, Current, In Repayment.

[JimH]

I've found forebearances are easy to get. If you can't pay for any reason, they generally grant the request. I've even had them grant me a forebearance after I fell behind on my payments and didn't call until two months past due. Interesting part is I ran my credit reports so I can prepare to file and it shows I've never missed a payment.

[lostsoul23]

I kept paying my student loan payments, didn't know I wasn't supposed to, but they showed "Default" under the status. I called them and was told very snippedly, well you filed bankruptcy. Now it shows, Current, In Repayment.

If you are current on the payments, and then file BK, that should not put you in 'default.' It would either push you into "suspended'' status or an automatic forebarance. You don't have to stop paying student loans while in BK, but, if you do, it just means that the intreset keeps piling on and you can't default while under BK. Nonetheless, it sounds like they got it right now...good luck.

[jennga]

Thanks all, a forebearance would just postpone the inevitable and I can make the payment without it being late. I was just surprised how quickly they got on top of it all and I must say I was still holding some unrealistic hope that a glitch would occur and my student loans would be discharged.

Didn't happen, didn't really think it would, just a pipe dream and now it's time to pay.

[bkfiler]

too bad. dont worry it will help your credit rating. how much do you owe still? and to start with?

[jennga]

I hate to even complain about it because it is really low, total amount is less than 3k, monthly payment is less than $90. It can be done, just wasn't expecting it this quick. Finding the cash isn't so difficult now that I owe not ONE single credit card.

[jennga]

bkfiler, I found your old picture last night on yahoo images, the one with the pretty teeth and pony tails. I thought I was having flashbacks and that those images had given me Post Traumatic Stress Syndrome. But there you were right in line with all the beautiful people

[bkfiler]

my pretty face will follow you forever

[StaciMM]

It is probably based on the lender. When I filed in September, Wells Fargo put me into deferment til Feb. I still have not figured out if that means payment due in February or I get the next statement in February for a payment due in March. If the later, then I guess they automatically did a 6 month deferrment.

Jennga-perhaps yours did a 3 month deferment, since that is the normal time span of a ch. 7? I've heard of some doing 12.

One thing is for sure-NO late payments! I have 2 trade lines, though they're both thru WF and I receive 1 statement & make 1 payment. Having late payments now would be the kiss of death for re-establishing and getting ready to buy a house.