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Student loans and bankruptcy

I want to go to college to begin my degree. 11 years ago I attended a private college and forfietted on my student loans.I can go bankrupt for those loans right now.
1) If I re enroll in school and do not take out new student loans, will the student loan aspect of my bankruptcy be affected?

next month I plan to return to school, I will not be taking any student loans. I need to declare bankruptcy. (I also have other accrued debts. i.e. credit cards, income taxes.)Should I declare before I begin school or can I wait until after without affecting the status of the bankruptcy in any way?

Posted from: British Columbia

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One Response to “Student loans and bankruptcy”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Student loans and whether or not they are released if you file for bankruptcy is a very time sensitive issue. The way the rules work is that your student loans can only be released if you have physically not taken any classes in the last 7 years. The moment a class is taken the clock is re-set. So before you begin school I would suggest very strongly you meet with a licensed trustee