If my student loans from sallie mae go into collections will bankruptcy cover them then?

January 30, 2010 by admin
Filed under: signature-loans 


I was going to file bankruptcy anyways and i know that government student loans arent covered but i heard signature loans and private loans can be so just wondering

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4 Comments on If my student loans from sallie mae go into collections will bankruptcy cover them then?

  1. GeorgiaM on Sat, 30th Jan 2010 7:20 am

    2. No, you cannot file bankruptcy for any student loans. That’s pretty much the only thing you can’t file bankruptcy for.

  2. Tiare on Sat, 30th Jan 2010 7:28 am

    3. They are probably not going to be included in the bankruptcy, so dont hold your breath. You might get lucky, but nearly all student loans fall under the same umbrella, no bankruptcy

  3. DiamondB on Sat, 30th Jan 2010 8:13 am

    4. LOL!!!!!!!!!!!!!

  4. katerbecker on Sat, 30th Jan 2010 8:15 am

    5. Nope, student loans have a special status. If you go into default on them (which takes almost years of non-payment) then it will mess up your credit for a long time, like 10 years. But SallieMae can probably have your tax returns, (any type of refund check from the Federal Gov’t) and garnish your wages. Not sure about student loans from, say, Citibank, but Sallie Mae is a goverment sponsored enterprise (GSE).

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