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FullofHope

Help! College wants full balance after bk7 discharge

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Hey everyone,

 

My spirits are in the dumps. I had a institutional student loan that I defaulted on prior to bk7--it wasn't discharged. Now the school is seeking the full payment due, almost 8k in just a few weeks. I can setup a payment arrange but even if I make the payments as agreed it they are going to report it as delinquent because it is not the full amount.

 

What can I do? Bk has given me a fresh start but now this loan is about to ruin all of my efforts.

 

Do I have any options?

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What college was it for? You say it was an institutional loan. Was it a Perkins loan? Who has the loan now? Does the school still have it, the gov't, or a CA? How long ago did you take the loan out, and when did you default on it? Is it showing on your reports at all?

 

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What college was it for? You say it was an institutional loan. Was it a Perkins loan? Who has the loan now? Does the school still have it, the gov't, or a CA? How long ago did you take the loan out, and when did you default on it? Is it showing on your reports at all?

 

Sent from my SAMSUNG-SM-G900A using Tapatalk

 

Hey there,

 

It's for an accredited college, an ivy actually. It isn't a perkins or government loan. The loan was granted through the school itself. The school has the loan again as it is out of collections. And it is not showing on any of my reports. My discharge was back in November of 2016 and I received my first request for payment yesterday.

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I don't know much about bankruptcy, and how it affects student loans. So, bear with me.

 

When did you default on your student loan, originally? That could be why it's not showing on your reports.

 

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I don't know much about bankruptcy, and how it affects student loans. So, bear with me.

 

When did you default on your student loan, originally? That could be why it's not showing on your reports.

 

Sent from my SAMSUNG-SM-G900A using Tapatalk

It's okay, I don't know that much about bankruptcy either. The defaulted loan is showing on my Experian as Closed/Paid and on Tu as Closed/Late (not reporting on Eq). There is no date of default but I believe it happened in 2015.

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Ok, so it's still on SOL. I would call to see if you can do a rehab on it. It'll still show the lates, but will take off the default status. If not, I would still try to get into a payment arrangement before they send it to a different collector. If I'm not mistaken, loans held through the school can stay on your report until you pay it off, depending on the type of loan. I know it sucks, but it's already hurting your credit on the reports it's showing on. You'll still be making an improvement on working on your credit. Do you have any revolvers, or positive tradelines?

 

Sent from my SAMSUNG-SM-G900A using Tapatalk

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Ok, so it's still on SOL. I would call to see if you can do a rehab on it. It'll still show the lates, but will take off the default status. If not, I would still try to get into a payment arrangement before they send it to a different collector. If I'm not mistaken, loans held through the school can stay on your report until you pay it off, depending on the type of loan. I know it sucks, but it's already hurting your credit on the reports it's showing on. You'll still be making an improvement on working on your credit. Do you have any revolvers, or positive tradelines?

 

Sent from my SAMSUNG-SM-G900A using Tapatalk

 

I do have 3 positive trade lines but I'm just worried about this reporting as delinquent until I finally pay that off. They put my lawyer through the ringer during the automatic stay so the two individuals in the bursars office are intentionally trying to make my life a living hell. They won't even allow me to get my transcripts until the loan is paid off. And they don't allow rehabbing.

 

I thank you for your help!

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