College Can Be Expensive—We All Know That. But If Money (Or Lack Of It) Is Holding You Back From Attending College, You've Found The Right Place. Welcome To CollegeLoansWeb.com. Our Free Articles, Tips, And Strategies Will Provide You With All Of The Information, Data, Resources, And Tips You Will Need To Make An Informed Decision About Finding Student Loans And How To Qualify For Them. As
you explore this site, you'll discover...
|
How
To Get A Student Loan - Even With Bad Or No Credit
|
|
What Not To Do When Shopping For A Student Loan
|
|
Are You Making These Common College Loan Mistakes?
|
|
Hot: 3 Things Your Lender Will Never Tell You
|
|
Everything
You Must Know About
: Consolidate Student Loans, Federal Consolidation Student Loans, Refinancing
Student Loans, Alternative Student Loans, And Bad Credit Student Loans.
|
|
 |
|
|
The Scholarship & Grant Guide
|
America's #1 Online Scholarship Guide since 1997 |
|
 |
| |
How To Send Your Child To College Free
|
How to send your child to college with virtually no money!
|
|
|
| |
Half Price College
|
College Financial Aid and Scholarship Information |
|
|
| |
Student Loans Can’t Be Swept Away Through Bankruptcy
Author: Charles Essmeier
Bankruptcy is in the news these days, as Congress has finally overhauled the Federal bankruptcy law after years of talking about it. The credit card companies, rightly or wrongly, have been pressuring members of Congress to tighten the bankruptcy statutes, saying that too many people were willfully spending money they couldn’t repay with the intention of avoiding paying the money back by filing for bankruptcy. That will soon change, and those with student loans may pay a heavy price.
Most everyone knows that consumers with problem debt who are unable to pay their debts may file for bankruptcy under Chapter 7 of the Federal bankruptcy code. This allows for the court to basically wipe away all of the debtor’s bills and allows them to start over. It’s not entirely free; the bankruptcy filing stays on the debtor’s credit report for the next ten years and may affect their ability to buy a home, borrow money or obtain employment. What many people fail to realize is that while installment loan debt or credit card debt can be wiped out through filing for bankruptcy, most student loans cannot. In fact, thanks to legislation enacted several years ago, most any loans acquired for education, including those issued by for-profit agencies, may not be eliminated through filing for bankruptcy.
What this means for those with student loans is that they will need to be repaid. If bankruptcy is inevitable, those with outstanding student loans should contact their lenders and see if they can’t negotiate a repayment plan. Those with Federally funded student loans should contact their lender soon, as rates for student loans will go up on July 1, 2005. Now would be a good time to consolidate student loans, as the rates can be locked in for the long term. If these options are not viable, then holders of student loans should simply be aware that their lenders and their lenders’ loan collectors will be keeping in touch with them for the foreseeable future. Those with student loans and other financial problems should also be aware that Federal bankruptcy law will change in October, 2005, making it harder to file for bankruptcy. If you have problem debt, now would be a good time to consider meeting with a credit counselor.
About the Author
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.
Article Keywords:
'College Loan'
|
 |
Recently, an interesting
email came across my desk. I'll paste it below.
This MAY be a good option for a student loan. Check it out.
|
|
Dear Friend,
This may be the perfect answer for you if you have good credit, bad
credit or even if you have been turned down for a loan. You will learn
that we are very flexible and will bend over backwards to inform people
such as yourself--even for the secrets to financing that's "tough
to get."
Just think, you can discover how to get the money to start that business
you've been planning, or buy a car, boat, or consolidate credit cards
or just take your family on a vacation. Now, could you use a plan to
get up to $15,000 or more within the next few days? If you are like most
people, you needed it yesterday.
Read Carefully Our Guarantee: If for any reason you do not receive up
to $15,000...(please continue)
|
|
|
|
|
Continue
Reading... 
