PalLatina

Depending upon the type of bankruptcy that is filed and approved by the court (either Chapter 7 or Chapter 13 for individuals) depends on your answer. If you file Chapter 7 and it is approved, then after the dismissal hearing, then you are free of your debts. Under Chapter 13, this is where you pay back an agreed upon amount with the courts approval over a 5 year period, You will want to reaffirm with the debts you want, (ex house, car, etc).. this way they can still be yours depending on the ratio of amount left on the loans. However, in Chapter 13, you are not permitted at all to borrow any funds for anything while you are in bankruptcy for the 5 years, unless it is necessity and it has to go in front of the judge again and they have to approve your request at that time (ex: say your basement caves in on your house due to minor floods, etc), this means under Chapter 13, you are not permitted to even borrow student loans, you have to wait until you are out of bankruptcy… No matter which one you file and is approved, your student loan debt will never go away, you will always be responsible for this debt (means you can not include it in your bankruptcy.. the court does not permit it).. Good luck, I hope I didn’t totally confuse you, if so, let me know and I will try to help you more…