Filing Chapter 13, Can I take out a student loan?

[jtallerie]

I will be filing chapter 13 soon (I hope). I turn in my bank statements & pay stubs to my atty monthly, to be ready when we have to pull the trigger on the bk. My income was reduced & was out of work for a while. I am trying to show that I have the income for a 13, I would like to try & save my home. My six month look-back does not look good to support a plan. However my income is starting to go back up. I am eligable for chapter 7 as well. I might have to do ch7 & give up my home, don't know yet.

I work in retail & I am also self employed. I want to be able to go to school and become a paralegal. (hopefully earn some kind of living wage).

I am eligable for finincial aid. I know this for a fact b/c daughter is starting College in August & has a free ticket. She will need to take out 1 small loan to purchase a clunker to get to school.



I would like to take out a student loan Stafford or Perkins for myself. In a ch 13 am I allowed to do that?
I am afraid that I will end up a bag lady some day if I cant earn a living wage at a regular job. I know it sounds like I just want to rack up more debt, however, I just want to better myself and I am trying to figure out how to do this.
Self employment income varies soooo much month to month. Regular job only pays 20,000 a year, (and I have a tremendous amt of responsibility @ this job) key carrier in big box retail. I am 47 yrs old and I cannot work @ this pace for the rest of my life. My goal is to earn 35,000+ benifits, at a regular job. My husband & myself have no health insurance, no life insurance & no money.

DH needs an operation for a tumor in his neck that can become the size of a foot ball (he is 63). I have to prepare myself to support both of us in the future and earn a stable income. My job does offer insurance but I cant afford it and be able to eat.

I am not sure if I take this career path a lawyer will even hire me due to my bk.
Any advice/suggestions out there?

[sah2]

You may be able to file Chapter 7 and still keep your home- I did. Talk to your attorney.

[Exployer1234]

If you are completing a chapter 13 then the trustee will need to sign a statement stating you can have the loan. If you are filing chapter 7 the school may require the trustee to also complete a statement that you can have additional loans.

I just went through this, but I am almost discharged. I did a chapter 7 and just submitted a statement from my attorney on that the trustee had listed me as a no-asset case and is completed reviewing my case. I also submitted the pacer information where the trustee stated this as well. The school accepted this as my bankruptcy statement.

[jtallerie]

I dont think that it is possible for me to keep my home & do ch7. I am way behind on my mortgage. It is my understanding that you can only keep the home in ch7 if you are current on the mortgage payments. My home is upside down & when I purchased I put 20% down. Bought at 325,000 & now it is worth 206,000. I owe 255,000.

The reason I wanted to do a ch 13 is b/c it would allow me to catch up on the payments in the plan over 5 yrs.
My atty wants me to try to get BOA to work on some type of modification, to try to keep the home. I have been advised that once I file it will be very hard to get them to work with me.

I would appreciate any advice you have. Thanks for your response.

[bakergrl]

I filed chapter 7 and I had no problems so far, at school they said worse case scenario I may have to sign something with the lender.

[Fresh]

I would think that you would have to get permission from the trustee in ch. 13. For a ch. 7, I've heard there are no restrictions on federal loans.

~Fresh~

[AKboy]

Chapter 13's are a different bear when it comes to student loans. As stated above, you may need the trustee's permission to get the loan. You will have to talk to the financial aid administrator of the school you are attending to see what they need.