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Thread: Student loan forgiveness

  1. #81
    Senior Member
    Join Date
    Jan 2011
    Thank you sweetana3, that is helpful info. they WANT to repay and are resisting my attempts to check out bankruptcy, and in the end, it's not my decision. However, they need to know what options they have.

  2. #82
    Senior Member flowerseverywhere's Avatar
    Join Date
    Jan 2011
    Quote Originally Posted by early morning View Post
    BTW, cousin moved to FLA with her family, and told us on their last visit that they are buying a house, which they will be able to keep, free, if they "have" to declare bankruptcy again. I hope they are wrong about that.

    I think that's my main gripe about this - that unlike other unsecured loans, it's really hard to get out from under student loans in a bankruptcy situation. (and if a car is collateral for its own car loan, how on earth do people get to keep cars in bankruptcy? Lots I don't know/understand here....)
    Chapter seven in Florida has residency requirements (like more than two years) and if approved, you get to keep your house within certain parameters. Because of the explosion in house prices here, many of my friends are living in very expensive paid off houses which would be untouchable as I understand it. Medical bills are the cause of close to half of bankruptcies from what I could find , as well as divorce, job loss.
    I can understand that as DH had over a million in bills last year during his cancer treatment. We paid almost nothing out of pocket however we have Medicare advantage. of course that would put lots of people under, even if they negotiated it down .
    I'm sorry for your child.

  3. #83
    Senior Member jp1's Avatar
    Join Date
    Dec 2010
    San Francisco
    Quote Originally Posted by LDAHL View Post
    The Eighth Circuit Court found otherwise when they overruled the original court’s denial of standing to Missouri.
    ‘Ll have to go read how they came up with that decision since the loan corporation was set up as a distinct entity that the state wouldn’t be legally responsible for financially. On the surface it strikes me as dumb as the idea that if you are a farmer growing wheat to feed your cows for personal purposes it is a violation of the interstate commerce clause.

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