paying on loans
I am going to be eligible for bankruptcy to include my student loans in two years. My question is, after reading some of the blogs on your site, will I still have to pay back the student loans? In reading, its my understanding that I will still be responsible for them once my bankruptcy is complete. Is this the case? If it is the case, what is the point in including student loans in bankruptcy to be forgiven (or wiped out or whatever you want to call it) if you have to pay it back in the end? This doesn`t make any sense to me and if you could clarify this it would be great because why bother declaring bankruptcy due to student loans if one still has to pay them back in the end?
Posted from: New Brunswick
Student loans can be cleared if at least 7 years have elapsed since you last attended school. This is measured as of the date you file a bankruptcy.
Now student loans always have to be included / listed in the bankruptcy, but again they only survive if the 7 years has elapsed.