Ch. 13 for only student loan debt
Posted: Wed Feb 01, 2012 10:46 pm
Not every loan qualifies for the Ford (Direct Loan Servicing) program.
On 2/1/2012 10:13 PM, Dennis McGoldrick wrote:
>
>
> use the ford program, 25 years, payment based upon tax returns.
> amount not repaid is forgiven.
>
> *From:* James T. King
> *To:* "cdcbaa@yahoogroups.com"
> *Sent:* Tuesday, January 31, 2012 9:54 AM
> *Subject:* RE: [cdcbaa] Ch. 13 for only student loan debt
>
> Since nondischargeable interest continues to accrue would that
> have any advantage?
> Can you classify students differently in a Chapter 11 versus a
> Chapter 13?
> *From:*cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] *On
> Behalf Of *Mark J. Markus
> *Sent:* Tuesday, January 31, 2012 9:48 AM
> *To:* cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] Ch. 13 for only student loan debt
> Anyone here use a Chapter 13 merely to lower payments on a student
> loan debt, without doing an undue hardship challenge? Will
> courts allow that if the student loans are the only debt? In
> other words, there would be no discharge of the debt---just a
> really small reduction in principal over 5 years. Which leads me
> to the obvious next question---can the debtor then just file
> subsequent Ch 13s over and over on the S/L debt? I'm thinking it
> might be "safer" to create a separate unsecured class and do a
> Chapter 11 case which provides for 100% payment over like 30 years.
>
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> Mark J. Markus
> Law Office of Mark J. Markus
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The post was migrated from Yahoo.