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"What Happens After Student Loan Rehabilitation" Discussion

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Professional Q&As for "What Happens After Student Loan Rehabilitation"

Upsolve Community Member
2021-12-13

Observation during my current student loan research: You will find that many media articles on this subject are dated "swipes" from other media typically reporting the Adversary Proceeding is very difficult because it is up to the borrower to prove "undue hardship". That is NOT what I am seeing out there. The pendulum is swinging in our favor regardless of what happens in Congress. As more info about the student loan debt crisis becomes mainstream, judges are listening and learning too. As we wait for Congress to legislate ANYTHING meaningful to address borrowers in dire financial straits, is IMPORTANT you know about the Adversary Proceeding as a collaborative step (separate filing). Read the Upsolve articles found in the Learning Center and referenced here in this community and stay close as more info becomes available.

13 Reactions

Community Replies:

Upsolve Community Member
And what no one ever seems to mention is just how many of these student loan adversaries actually settle in the debtors' favor! 

Upsolve Community Member
I've gotta be careful here because I don't have the source at hand right this minute, but over HALF in a recent time period!

Upsolve Community Member
2021-11-16

Is there a limit to how much student loan debt you can erase in bankruptcy? I don't want to erase the other debts just the student loans

Community Replies:

Upsolve Community Member
Karla, thanks for asking! Unfortunately, discharging student loans in bankruptcy happens through a different process than other debts- called an adversary proceeding. It's not as common, and can sometimes be difficult. It's not impossible- and past Upsolve users have successfully discharged their student loans this way! Here's how you can learn more about this: https://upsolve.org/learn/bankruptcy-for-student-loans-5/

Upsolve Community Member
This is an Upsolve user! https://www.forbes.com/advisor/personal-finance/settle-student-loan-debt/

Upsolve Community Member
2021-11-17

what happens if you're still a student and you want to file, can you still get a scholarship?

2 Reactions

Community Replies:

Upsolve Community Member
Appreciate you asking! It depends on the type of financial aid you're applying for. Some federal loans do require good credit, but some just look at your level of financial need based on your current circumstances. Upsolve's https://upsolve.org/learn/how-bankruptcy-impact-student-financial-aid/ could be a helpful place to start! 

Upsolve Community Member
2021-12-20

I cannot afford a bankruptcy lawyer. Does this really work to file yourself?

16 Reactions

Community Replies:

Upsolve Community Member
Mary yes it really works i thought it would be hard...On the contrary pretty straightforward and simple.....and the upsolve team can answer your questions along the way.....

Upsolve Community Member
Hi Mary! I know, there is no such thing as a free lunch. Welcome to your free lunch...  It's actually a partnership because, through a series of questions and answers, YOU provide the answers and if some of the questions are confusing, the Upsolve Learning Center will most likely have your answers. This Community will assist you in locating the appropriate Learning Center information should you have difficulties. I am an Upsolver! I filed and was discharged in 2020. I couldn't afford a lawyer either and not only was Upsolve the tool I needed to do it myself, but I believe in Upsolve so much, I am here to assist others like you! Good luck, Mary! :-). 

Upsolve Community Member
I have a question. So far it had been easy enough answering the questions. I am stuck though on how how to find all the places you owe and cannot pay? A second question, is on credit Karma I can pull up Transunion and Experian (I think it was Experian). I have 2 credit scores show in the high 500's. They are a couple numbers a part. My question is I did not have a but 3 credited on it I owe..and my student loans whick say I am good standing. Anything else say there closed. So why is my credit score so low?

Upsolve Community Member
Mary, as a former Upsolve filer now rebuilding credit, let me see if I can assist with the several questions you have here. First, CREDIT KARMA is a commercial company NOT a credit reporting agency. This Upsolve Learning Center article: https://upsolve.org/learn/get-your-free-credit-report/ As far as Student Loans are concerned, late payments on private and federal student loans are reported to credit agencies. If they are in good shape, you won't see them on your credit report(s). I hope this helps! :-) 

Upsolve Community Member
You might also find this article helpful, Mary! https://upsolve.org/learn/do-not-remember-creditors-owed-chapter-seven-bankruptcy/

Upsolve Community Member
Thank you. It did help but it's really overwhelming trying to find all the places you owe. Do I go back as far as I can with the debt?  Does this Questioner have to be done in 5 days? What happens if it isn't? Like I said it overwhelming. Sorry guys to ask all these questions.

Upsolve Community Member
You can take longer if you need, Mary. Thanks so much for being here

Upsolve Community Member
2022-01-15

I filed for bankruptcy over 20 years ago using an attorney. It was easier than I thought it would be and would’ve dramatically changed my financial situation if it weren’t for all the student loans I had. I was working on my credit score by opening a Fingerhut account and a few secured credit cards. Then things went downhill and after a few emergencies I got behind, lost income, and now too deep to swim. Anyone else go through this?

7 Reactions

Community Replies:

Upsolve Community Member
Hi Serena! Your story is very common. There is not a single person alive who has avoided the dips in life. Some more than others, to be sure. But it is what we do with the OPPORTUNITY to plan for life events when they happen --- whether that be planning our daughter's wedding or losing our job, that counts! 

Upsolve Community Member
When $@*# happens, are we ready? Do we have a rainy day fund for unexpected life events? Do we stay close to our budget? Things like that. We are HERE NOW and that is all the counts at the moment. You survived your last bankruptcy and you'll survive this one during a pandemic. 

Upsolve Community Member
The flowers will be blooming by the time of your next Discharge and I wish you the best of luck going forward with your FRESH START! :-)


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